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NOTES 


ON 


POLITICAL  ECONOMY, 


AS  APPLICABLB   TO 


THE    UNITED    STATES 


A   SOUTHERN   PLANTER. 


NEW- YORK : 

LEA  V  ITT,    TROW,    AND    CO 

1844. 


Entered,  according  to  Act  of  Congress,  in  the  year  1844,  by 

LEAVITT,  TROW,  &  CO., 

in  the  Clerk's  Office  of  the  District  Court  for  the  Southern  District  of 

New-York. 


PREFACE 


These  Notes  on  Political  Economy,  as  applicable 
to  the  United  States,  were  written  within  the  last 
two  years,  partly  to  give  expression  to  thoughts 
that  occurred  to  the  author,  and  partly  to  occupy 
and  amuse  his  leisure  moments.  Friends  advised 
their  publication,  and  they  are  now  given,  for  what 
they  are  worth,  to  the  public.  The  author  hopes 
that  they  may  be  read  with  care,  and  without  pre- 
judice, their  suggestions  improved  upon,  and  that 
they  may  lead  to  some  good  results.  The  whole 
United  States  will  find  their  attention  directed, 
both  in  principle  and  detail,  to  a  subject  that  em- 
braces all  interests ;  and  the  Southern  States  par- 
ticularly, with  which  the  author  stands  identified, 
by  birth  and  interest,  are  requested  to  read  these 
Notes  in  reference  to  their  staple  productions, 
wants,  and  operations.  Whatever  defects  may  be 
found  in  the  work,  the  author  hopes  to  get  credit 
for  good  intentions. 


1' 


.1SL.<  ^' :; 


CONTENTS 


CHAPTEr4,  I. 
Definition,  .         ,         , .  1 

CHAPTER  II. 

'  Governed  by  Circumstances,'  is   the   Golden  Rule   in    Political 

Economy, 3 

CHAPTER  III. 

Cases  requiring  Protection,  Bounty,  or  some  Act  of  the  Government,  7 

CHAPTER  IV. 
Protection, 9 

CHAPTER  V. 
Free  Trade, 14 

CHAPTER  VI. 

Power  to  Protect, ,22 

CHAPTER  VII. 
Manufactures, S5 

CHAPTER  VIII. 

C«|»it«l,    ,         ,         , ,         .         .         :TS 


VI  CONTENTS 

CHAPTER  IX. 

faf« 

Capacitj  and  Intelligence,  39 

CHAPTER  X. 
Raw  Materials,  43 

CHAPTER  XI. 

Provisions,  Water  Power,  Taxes,  Poor-Laws,  Machinery,  .        54 

CHAPTER  XII. 

Facilities  of  Commerce,  Intercommunications,  and  Interchanges  in 

Aid  of  Manufactures, 58 

CHAPTER  XIII. 

Protection  is  not  a  Tax  on  Consumption  long,         «...        65 

CHAPTER  XIV. 

Buying  Things,  or  Spending  Money  Home  or  Abroad  is  widely 

different, 71 

CHAPTER  XV. 

Home  Market — Its  Extent, 83 

CHAPTER  XVI. 

Objections  Answered  to  a  Protecting  Tariff*, 89 

CHAPTER  XVn. 

Our  Capacity  to  grow  Cotton  cheaper  than  any  Country,       .  101 

CHAPTER  XVIII. 

Manufactures  will  have  a  good  Effect  on  our  General  Prosperity, 

and  each  Branch  of  Business, 116 

CHAPTER  XIX. 
Foreign  Commerce,  .  .  ....      157 


CONTENTS.  ifii 

CHAPTER  XX. 

Pay* 
Raw  and  Wrought  Values, 164 

CHAPTER  XXI. 

Nations  of  the  World-^Their  Condition,  and  the  Causes,  169 

CHAPTER  XXn. 

Poor-Laws, 194 

CHAPTER  xxnr. 

Slavery, 200 

CHAPTER  XXIV. 

Labor,  Wages,  Profits, 205 

CHAPTER  XXV. 
War  and  Taxation, 216 

CHAPTER  XXVI. 

Extension  of  Territory — Texas,  Oregon,  etc.,  ....      226 

CHAPTER  XXVII. 

Banks,  Money  Companies,  Accumulation  of  Capital,  Balance  of 

Trade,  etc., 235 

CHAPTER  XXVIII. 

Population, 246 

CHAPTER  XXIX. 

Education,  and  the  Public  Lands, 254 

CHAPTER  XXX. 
Internal  Improvements,  The  Mail,  etc.,  .        .  2|56 


•^# 


via  CONTENTS. 

CHAPTER  XXXI. 

Pur* 

Kepresentation,  Public  Opinion,  Suffrage, S83 

CHAPTER  XXXn. 
State  Debtt,  City  Defences,  and  Licenses  to  Sell  Spirits,  2^7 

CHAPTER  XXXni. 

New  Staples,  Silk,  Indigo,  Grape,  Olive,  more  Sugar  and  Wool, 

and  Ameliorations  in  Agriculture, 297 


NOTES  ON  POLITICAL  ECONOMY. 


CHAPTER    I. 


DEFINITION. 


Political  Economy  is  a  science  that  embraces 
and  regards  all  measures  calculated  to  advance  the 
prosperity  of  a  nation.  This  is  its  positive  and 
direct  object;  but,  negatively,  it  questions  all  such 
measures  and  policies  as  are  thought  injurious  to  a 
country's  interest,  or  that  from  their  nature  seem 
calculated  to  retard  or  interfere  with  its  pros- 
perity. 

This  science  is  in  its  nature  essentially  practi- 
cal, and  should  be  treated  in  a  plain,  practical 
way.  Adam  Smith,  Mr.  Say,  and  others  who  wrote 
upon  this  subject,  were  too  abstract  and  theoreti- 
cal for  common  use.  They  either  presupposed 
facts  and  circumstances  to  fit  their  theories,  or  left 
it  to  the  imagination  of  their  readers  to  shape 
them.  It  became  harder  to  find  the  cases  to  which 
they  apply,  than  to  mark  the  theories  and  princi- 

2 


4  NOTES    ON   POLITICAL    ECONOMY. 

pies  that  are  applicable  to  such  cases,  or  to  trace 
the  results  that  flowed  from  them.  Political  econ- 
omy should  be  treated  in  a  manner  so  plain  that 
all  can  understand  it ;  that  a  child  may  run  and 
read  its  practical  uses  and  natural  results.  Plain 
working  men  have  to  do  with  its  operations,  and 
they  are  the  sort  that  prove  its  principles,  and 
make  the  best  and  most  available  suggestions  to 
the  legislators  of  the  countries  to  which  they  ap- 
pertain. This  class  of  persons  are  in  possession  of 
the  facts,  and  acquainted  with  the  circumstances 
that  form  the  basis  of  all  valuable  operations.  It 
would  be  "  the  cart  before  the  horse,"  in  regard  to 
such  men,  to  begin  with  theories.  They  must  first 
have  the  facts,  be  in  possession  of  all  circumstances 
of  the  country,  its  markets,  its  wants,  its  labor,  its 
capacity,  its  capital,  and  materials,  and  then  it  is 
easy  to  combine  them  and  show  the  effects  of  any 
policy  or  operation.  Theories  and  results  flow  from 
such  a  practical  combination,  and  are  its  legitimate 
and  natural  offspring. 

Many  of  the  rules  and  maxims  of  these  stand- 
ard writers  are  doubtless  true  and  valuable  when 
the  case  fits  them.  They  w^ould  be  much  more 
striking  and  conclusive,  however,  if  worked  out  by 
practice,  in  connection  with  a  suitable  set  of  facts 
and  circumstances,  than  when  read  from  books,  in 
the  dark  abstract  way  in  which  they  treat  them 
and  state  them.  All  the  doctrine  of  wages,  labor, 
capital,  profits,  monopolies,  and  so  forth,  that  fill 


NOTES    ON   POLITICAL    ECONOMY.  6 

up  their  volumes  to  such  an  extent,  is  true  only  in 
reference  to  circumstances,  and  the  results  are  the 
one  thing  or  the  other,  good  or  bad,  useful  or  inju- 
rious, accordingly  as  these  circumstances  exist  or 
change.  I  shall  therefore  treat  this  subject  strictly 
and  literally  in  relation  to  the  circumstances  of 
these  United  States,  and  make  all  my  suggestions 
and  base  all  my  policies  upon  that  safe  and  natural 
foundation.  Measures  that  thus  rest  upon  facts, 
and  look  to  the  circumstances  of  the  country,  must 
be  right — cannot  err.  The  case  becomes  then  made 
up,  and  the  consequences  aimed  at  flow  certainly 
and  naturally  therefrom.  Fortunately  for  mankind, 
and  for  nations,  the  facts  present  themselves  in  a 
way  to  be  seen  by  all  that  are  desirous  of  seeking 
truth  or  benefiting  their  country,  and  can  be  cited 
and  stated  so  as  to  convince  the  whole  mass  of  the 
people. 


CHAPTER    II. 


'  GOVERNED  BY  CIRCUMSTANCES,'  IS  THE  GOLDEN  RULE 


'J 
IN  POLITICAL  ECONOMY. 


I  WOULD  lay  down  this  rule  or  maxim  as  the 
only  available  one  in  this  science.  The  political 
economist,  and  the  governors  or  legislators  that 
would  wish  to  place  their  country  upon  the  proper 


4  NOTES    ON    POLITICAL    ECONOMY. 

ground,  and  promote  its  prosperity,  must  regard  it 
or  fail.  In  all  modifications  of  the  tariff;  in  all 
propositions  to  promote  agriculture,  commerce,  or 
manufactures  ;  in  all  laws  or  arrangements  that  go 
to  affect  labor,  or  change  the  order  of  things,  the 
only  question  should  be,  Do  the  circumstances  of 
the  country  favor  it;  or,  do  the  interests  of  the  na- 
tion require  it  7  is  a  case  made  out  to  fit  or  call 
for  the  measure  in  question  7  and  what  is  the  real 
condition  of  things  in  reference  to  the  proposition  7 
not  what  did  Adam  Smith  or  Mr.  Say  wTite  or  lay 
down? 

That  mighty  difference  betw^een  national  w^ealth 
and  greatness,  and  national  poverty  and  wretched- 
ness, is,  nine  times  in  ten,  brought  about  by  totally 
disregarding  the  circumstances  of  countries  in  the 
latter  case,  and  turning  them  to  account  and  obey- 
ing them  in  the  former.  Servilely  copying  the  ex- 
ample of  other  countries,  whether  their  circum- 
stances be  similar  to  ours  or  not,  never  fails  to 
mislead  and  produce  confusion.  We  may  easily 
trace  all  the  national  degradation  and  misery  that 
history  sets  forth  to  misrule,  or  gross  neglect  of  the 
circumstances  that  they  were  surrounded  with,  and 
should  have  consulted.  I  will  here  state  some 
cases,  both  real  and  hypothetical,  where  circum- 
stances should  or  did  govern,  and  give  the  proper 
direction  to  the  industry  and  labor  of  man,  and  of 
nations,  and  lead  to  wealth  and  comfort. 

1st.  In  the  realities  of  history.     Venice  and  Ge- 


NOTES    ON   POLITICAL    ECONOMY.  5 

noa  could  not  have  failed  to  push  commerce  and  the 
carrying  trade  for  all  Europe.  They  had  the  ships ; 
were  in  a  confined  or  insular  situation ;  and  embold- 
ened by  free  institutions  to  undertake  what  lay  be- 
fore them  and  promised  so  much  profit  and  consid- 
eration. The  Crusades  threw  all  Europe  upon 
them,  and  unsealed  the  trade  of  the  East  to  their 
enterprise. 

Mexico  and  Peru  could  not  have  failed  to  work 
the  mines  that  lay  'around  them,  and  pour  forth 
the  precious  metals  to  the  whole  earth.  These 
gave  the  means  of  procuring  food  and  clothes  from 
abroad,  and  even  luxuries  to  any  extent. 

These  United  States,  for  twenty-five  years  after 
their  revolution,  with  a  fertile  soil,  few  laborers, 
and  a  good  market  in  Europe  for  their  provisions, 
did  right  in  pushing  agriculture,  and  their  shipping 
interest.  Europe,  engaged  in  long  wars,  had  need 
of  their  provisions  to  feed  their  armies,  and  of 
their  tonnage  to  neutralize  their  commerce.  Many 
other  cases  might  be  adduced  from  history,  to  show 
that  circumstances  did  govern,  and  give  to  labor 
the  proper  direction. 

2d.  Hypothetically.  A  country,  naturally  ster- 
ile in  its  soil,  but  underlaid  with  the  richest  mines 
of  the  precious  and  useful  metals,  ought  to,  and 
would,  as  a  matter  of  course,  work  these  mines, 
even  if  she  had  to  buy  her  provisions  and  clothing 
from  abroad.  She  could  well  afford  to  do  this,  be- 
cause she  would  have  the  means  of  paying  for  them, 


b  NOTES    ON    POLITICAL    ECONOMY. 

and  her  labor  would  evidently  be  employed  to  the 
best  advantage. 

A  young  nation  inhabiting  a  rich  and  fertile 
country,  with  but  few  laborers,  and  a  good  and 
constant  market  for  corn  and  other  provisions, 
would  of  course  pursue  agriculture,  and  enrich  her- 
self by  its  productions.  They  could  by  their  sur- 
plus purchase  clothes  and  even  luxuries,  and  have 
prosperity. 

An  isolated  people  with  but  little  territory,  and 
surrounded  by  fish  and  pearls,  would,  as  a  matter 
of  course,  cast  their  nets  and  push  commerce  and 
navii2:ation.  Under  such  circumstances  many  small 
communities  have  become  wealthy  and  important, 
and  even  luxurious. 

A  tropical  population  with  fertile  soil,  and  un- 
limited markets  for  sugar,  cotton,  coffee,  cocoa,  and 
other  tropical  productions,  would  naturally  culti- 
vate those  staples,  and  grow  rich  and  luxurious. 

In  all  these  real  and  supposititious  cases,  and 
many  others  that  might  be  enumerated,  labor  could 
not  or  did  not  fail  to  take  the  most  profitable  chan- 
nels. The  circumstances  in  which  they  were 
placed  naturally  pointed  to  these  results.  In  all 
such  cases  we  might  mark  the  controlling  influ- 
ence of  the  above  rule,  that  circumstances  do  gov- 
ern and  should  direct  the  course  of  labor.  In  the 
cases  of  this  sort  there  was  or  could  be  no  occasion 
for  the  action  of  the  Government  to  direct  industry, 
nor  any  theories  of  the  political  economist  necessa- 


NOTES    ON    POLITICAL    ECONOMY.  7 

ry  to  develope  their  resources.  I  shall  in  the  next 
chapter  enumerate  some  cases  that  would  require 
legislation,  and  even  protection  and  bounties,  to  put 
labor  in  the  most  productive  channels. 


CHAPTER    III. 

CASES   RECIUIRING    PROTECTION,   BOUNTY,  OR  SOME  ACT 
OF    THE    GOVERNMENT. 

When  a  nation  has  a  part  of  its  population  idle, 
or  from  immigration  and  grow^th  acquires  surplus 
labor,  such  surplus  labor  ought  to  be  induced  to  be- 
come productive.  If  all  the  usual  occupations  be 
pre-engaged  and  full,  then  such  surplus  labor  should 
be  turned  to  some  new  employment,  or  into  some 
new  channel  of  industry,  and  made  to  produce 
some  new  staples,  or  develope  some  new  products 
in  agriculture,  or  some  new  articles  of  manufacture 
that  would  be  available.  Sliould  it  be  necessa- 
ry, protection  and  bounties  should  be  extended  by 
the  government.  It  becomes  a  leading  policy  in 
all  governments,  to  prevent  any  portion  of  its  pop- 
ulation being  idle,  and  becoming  not  only  clogs 
upon  the  community,  but  vicious. 

Whenever  the  usual  markets  of  a  people  be- 
come overloaded,  either  by  the  demand  diminishing, 


8  NOTES    ON   POLITICAL    ECONOMY. 

or  the  production  increasing,  a  portion  of  the  labor 
should  be  drawn  off,  and  by  proper  protection  or 
rewards  induced  into  other  and  more  profitable 
channels  of  business.  This  not  only  gives  new  re- 
sources, but  relieves  the  business  already  over- 
charged. 

Whenever  markets  open  for  certain  articles  or 
productions  promising  greater  profit  than  the  usual 
occupations,  a  stimulus  should  be  imparted  by  the 
government,  to  supply  such  better  or  more  profit- 
able markets. 

Whenever  new  resources  of  mines  or  products 
be  discovered  of  a  nature  manifestly  profitable,  they 
should  be  developed,  and  a  portion  of  the  labor  of 
the  country  less  profitably  engaged  turned  into  them 
by  proper  rewards  and  protection. 

When  the  independence  of  a  nation,  and  the 
comfort  of  the  people  require  certain  things  to  be 
produced,  such  as  iron,  copper,  lead,  coal,  blankets, 
flannels,  and  any  such  articles  of  first  necessity, 
they  should  be  protected,  and  their  production 
made  certain  by  the  proper  bounties  and  induce- 
ments. Woe  betide  the  nation  that  depends  on 
foreign  countries,  perhaps  enemies,  for  such  things  ! 
It  is  a  primary  policy,  or  should  be,  in  nations,  to 
have  such  things  produced  up  to  the  consumption 
or  wants  of  the  people. 

In  all  such  cases  as  the  above  cited,  and  many 
others  that  do  annually  occur  in  the  history  of  na- 
tions, it  may  be  necessary  to  have  the  aid  of  the 


NOTES    ON    POLITICAL    ECONOMY.  U 

government  to  bring  about  the  changes  in  labor  that 
circumstances  so  plainly  call  for,  and  that  even 
where  greater  profits  might  accrue.  Protections 
and  bounties  may  be  required  to  break  up  the  usual 
channels  of  labor,  and  give  to  it  a  new  direction. 
Circumstances  govern  these  sort  of  cases  just  as 
strongly  as  those  where  labor  takes  a  voluntary  di- 
rection. The  change  of  habit,  the  preparation 
necessary,  the  loss  of  time  in  acquiring  skill,  and 
scarcity  of  capital,  lie  in  the  way  of  individual  en- 
terprise, and  prevent  any  movement  or  investment 
in  the  new  channel  without  such  inducements  or 
guaranty. 


CHAPTER    IV. 


PROTECTION. 


In  the  last  named  cases  we  have  stated  that  pro- 
tection, and  even  bounties,  might  be  necessary  to 
give  new  directions  to  labor  and  capital.  The 
policy  of  protection  is  too  manifest  in  many  cases 
to  be  questioned  by  any  political  economist,  and 
the  practice  has  prevailed  more  or  less  in  all  ages 
and  in  all  nations.  Taunt  me  not,  then,  with  the 
quaint  argument  that  '^  the  let-alone  system  is  the 
best."  Tell  me  not  that,  under  all  circumstances, 
individuals  will  not  only  find  out  the  most  profitable 


10  NOTES    ON    POLITICAL    ECONOMY. 

lines  of  industry  and  business,  but  execute  them, 
and  realize  the  profits  incident  thereto  !  that  no 
action  of  the  government  is  necessary  in  any  case, 
no  protection  or  bounty  required  !  I  answer,  yes, 
and  appeal  to  experience  to  support  me.  A  young 
nation  never  has  much  capital,  not  enough  to  put  to 
hazard,  or  in  any  manner  jeopardize.  Scarcely 
any  new  line  of  business  can  be  entered  upon  suc- 
cessfully without  capital  and  skill.  No  new  mine 
could  be  extensively  wrought,  no  new  culture 
requiring  expensive  machinery,  such  as  sugar, 
could  be  instituted,  nor  any  of  those  manufactories 
started  where  much  machinery  is  necessary. 

There  is  always  a  loss  of  time,  and  generally  a 
failure  of  profit  sustained  by  persons  commencing 
new  business.  This  is  the  tax  ignorance  pays  for 
skill  and  experience,  and  from  such  considerations 
alone,  individuals  are  deterred  from  new  business 
requiring  such  skill  and  capital.  In  order  to  com- 
pensate for  this  delay  necessary  to  the  acquiring  of 
the  skill,  and  for  the  delay  also  in  removing  capital 
from  one  business  to  another,  and  the  time  lost  in 
the  preparation,  as  well  as  the  almost  certain 
failure  of  profits  at  the  start,  is  the  protection  or 
bounty  called  for  and  given.  This  protection  or 
bounty,  even  should  it  amount  to  a  tax  on  the  con- 
sumers, is  only  temporary ;  because,  when  it  shall 
have  induced  the  capital  and  skill  necessary,  and 
built  up  a  competition,  the  consumers  and  the  whole 
country  are  more  than  compensated  by  the  greater 


NOTES    ON    POLITICAL    ECONOMY.  11 

cheapness  and  better  quality  of  the  articles  thus 
produced.  This  I  will  be  prepared  to  prove  in  a 
subsequent  chapter,  by  the  proper  catalogues  of 
things  thus  produced  in  the  United  States,  and  their 
prices  before  and  after  protection.  I  will  here  merely 
say  that  every  production,  the  result  of  protection, 
in  this  country,  has  been  brought  cheaper  and  better 
into  the  market  than  before  such  protection. 

A  brief  account  of  the  United  States,  and  the 
productions  of  her  labor,  will  show  how  much  pro- 
tection has  already  accomplished,  and  the  necessity 
of  giving  much  more  extension  to  the  principle. 
For  twenty-five  years  after  our  revolution  the  labor 
of  this  country  took  the  proper  direction  without 
any  protection.  It  was  taken  up  in  agriculture  and 
commerce.  Provisions  were  needed  in  Europe  to 
sustain  the  long  wars  waged,  and  tonnage  to  neutral- 
ize and  render  safe  their  commerce ;  thus  originating 
the  carrying  trade.  As  soon  as  Europe  could  dis- 
pense with  our  provisions  and  tonnage  she  did,  and 
our  market  for  agricultural  products  became  limited 
and  much  diminished,  and  the  carrying  trade  was 
completely  cut  up.  The  production  of  staples,  such 
as  tobacco,  rice,  and  cotton,  increasing,  owing  to  the 
wants  of  the  European  powers,  gave  some  continu- 
ed employment  to  our  laborers,  and  for  a  time  were 
profitable.  That  profit,  however,  became  a  curse  to 
the  country,  by  filling  it  with  slaves,  to  the  exclu- 
sion of  free  labor,  and  leaving  the  northern  and  free 


12  NOTES    ON    POLITICAL    ECONOMY. 

states  almost  in  distress  for  the  want  of  productive 
labor. 

In  this  state  of  labor,  without  the  skill  or  capi- 
tal, or  any  special  protection  for  manufacturing,  a 
portion  of  laborers  turned  into  the  handicraft  occu- 
pations, because  no  capital  and  but  little  skill  were 
necessary  to  commence  in  them.  Hence  shoes, 
boots,  hats,  cabinet  and  household  furniture,  car- 
riages, tailoring,  carving,  gilding,  painting,  chemi- 
cals, plantation  cutlery,  paper,  glass,  leather,  all 
things  of  leather,  fur,  and  wood,  and  a  thousand 
other  things,  requiring  little  or  no  capital  or  ma- 
chinery except  the  hands,  were  entered  upon  and 
made  of  good  quality  and  taste  up  to  the  consump- 
tion of  the  country.  All  the  above  articles  were 
made  without  tariff  protection  and  with  success, 
because  no  capital,  or  expensive  machinery,  or 
delay,  was  necessary  to  their  operations — nothing 
but  a  few  cheap  tools  and  the  fingers. 

In  the  handicraft  operations  there  is  no  dividend 
to  be  made  to  capital.  It  is  all  the  creation  of  labor ; 
and  let  the  profits  be  much  or  little,  and  the  articles 
sell  for  a  high  or  low  price,  yet  it  all  redounded  to 
the  fabricator,  and  gave  him  a  certainty  of  support, 
which  encouraged  him  to  go  ahead.  The  above 
facts  in  regard  to  our  success  in  the  handicraft  oc- 
cupations prove  volumes  to  our  political  econo- 
mists. They  prove  our  success  in  this  country, 
where  we  are  told  there  is  no  surplus  labor,  and 
that  if  there  were  spare  laborers,  they  need  not 


NOTES    ON    POLITICAL    ECONOMY.  13 

hope  to  compete  with  Europe,  where  wages  are 
SO  low,  without  the  very  best  sort  of  labor-saving 
machinery  ;  that  it  must  be  by  such  aids,  not  by 
naked  labor,  that  we  may  hope  to  equalize  or  ap- 
proximate the  labor  of  Europe.  Our  success  not 
only  proves  our  skill  and  ingenuity,  but  that  we 
have  surplus  labor  in  this  country. 

All  of  our  manufacturing  operations  were  con- 
fined to  the  handicraft,  until  the  embargo,  the  non-in- 
tercourse, and  the  last  war  with  England,  cut  off  our 
trade  and  supply  from  abroad.  Then  dire  necessity 
9perated  upon  us,  and  the  double  or  treble  value  of 
all  goods  made  by  machinery,  aided  by  high  pro- 
tecting duties  laid  on  by  the  Congress  of  the  United 
States,  induced  capitalists  and  skill  to  commence 
the  manufacturing  of  cotton,  woollen,  iron,  sugar, 
salt,  and  many  other  things  of  great  necessity. 
During  those  times  of  difficulty  much  skill  was  ac- 
quired and  much  capital  invested  in  those  branches 
requiring  machinery,  and  our  progress  and  success 
were  great  for  the  time.  As  soon  as  these  difficul- 
ties ceased,  and  peace  and  commerce  resumed  their 
reign,  our  politicians  lowered  the  duties,  and  it  was 
with  difficulty  sufficient  protection  was  left  on  to 
keep  alive  the  establishments  that  we  had  induced 
into  existence.  The  doctrine  of  free  trade  was  so 
prevalent  that  we  were  prevented  going  on  to 
wealth  and  comfort,  and  have  ever  since  warred 
upon  the  manufacturing  interest,  in  a  way  to 
almost  paralyze  it.  The  protection  left  on,  however, 


14  NOTES    ON    POLITICAL    ECONOMY. 

has  done  wonders,  and  been  worth  millions  to  the 
nation,  both  in  value,  quality,  comfort,  and  inde- 
pendence. A  fortiori,  since  we  succeeded  in  the 
handicraft,  could  we  succeed  much  better  in 
branches  requiring  machinery,  since  labor-saving 
aids  do  much  in  equalizing  labor.  The  progress 
already  made  in  manufacturing,  the  millions  annu- 
ally made  or  saved  to  the  nation  by  our  present 
operations,  the  independence  and  comfort  derived 
from  them,  and  the  assurance  that  the  extent 
already  given  to  manufacturing  is  the  effect  of  a 
protecting  tariff,  should  encourage  us  to  go  on  still 
further,  and  espouse  the  doctrine  of  protection  as 
one  already  proved,  and  calculated  to  render  us 
independent  and  rich.  Protection  is,  therefore,  our 
best  policy,  and  due  to  our  enterprising  and  indus- 
trious population. 


CHAPTER   V. 


FREE    TRADE. 


There  is  something  fascinating,  but  deceptive,  in 
the  idea  of  free  trade.  It  seizes  upon  the  unthink- 
ing, and  takes  with  all  that  do  not  reflect ;  because  it 
seems  to  be  a  sort  of  adjunct  or  corollary  of  liberty, 
in  its  broad  and  unrestrained  sense.     The  dema- 


NOTES    ON    POLITICAL     ECONOMY.  15 

gogues  and  designing  politicians  catch  at  populari- 
ty by  using  this  popular  term,  and  ring  upon  it  all 
the  changes  to  suit  their  purposes.  Let  us  exam- 
ine for  one  moment  the  facts  and  circumstances  of 
this  country  in  reference  to  its  intercourse  with 
other  nations,  to  enable  us  to  understand  the  term 
"  free  trade."  I  will  here  merely  embrace  its  gen- 
eral rules  or  principles,  and  apply  them  to  the 
actual  condition  of  the  nations  of  the  world,  which 
must  be  regarded  in  deciding  the  question  of  free 
trade.  Nations  must  be  similarly  circumstanced, 
stand  on  the  same  footing,  and  have  all  advantages 
and  circumstances  equal,  in  order  to  ensure  the 
principles  of  free  trade  working  mutually  benefi- 
cial to  all.  Any  difference  in  their  condition  ;  any 
vantage  ground ;  any  engrossing  of  skill,  capital, 
tonnage,  or  seamen ;  any  long  established  organi- 
zation, would  give  to  a  nation  possessing  them  the 
vantage  ground,  and  enable  it  to  put  all  others  un- 
der contribution,  unless  countervailed.  Old  nations 
would,  through  it,  subsidize  young  ones.  A  high 
degree  of  manufacturing  skill  and  refinement 
would  enable  the  nation  having  it  to  keep  a  hold 
on  all  the  world.  A  fertile  and  virgin  soil  in  a 
suitable  climate,  would  be  able  to  feed  old  worm- 
eaten  countries,  and  keep  them  always  poor. 

I  will  exemplify  the  above  assumptions  by  a 
few  cases  and  facts,  taken  from  real  history  and 
from  the  nations  with  which  we  trade.  The  bulk 
of  our  trade  is  with  England.     She  is  far  advanced 


16  NOTES   ON    POLITICAL    ECONOMY. 

in  manufactures,  in  possession  of  all  the  skill,  pre- 
parations, an  unlimited  capital,  and  a  widely  ex- 
tended commerce.  If  there  were  no  protecting  du- 
ties, a  perfectly  free  trade  between  us  and  England, 
she  would  prostrate  all  of  our  manufactories  in  a  sin- 
gle year.  If  she  could  not  do  it  by  skill,  she  would 
by  dint  of  her  capital  and  commerce,  and  in  one  of 
the  following  ways.  She  manufactures  for  her  for- 
eign customers,  of  every  sort  of  thing,  two  hundred 
million  dollars  worth  a  year.  Suppose  she  has  sold 
annually  one  hundred  and  eighty  millions  for  her 
usual  profit,  and  has  twenty  millions  left  of  inferior 
or  refuse  goods.  Rather  than  have  this  balance 
left  on  hand,  she  will  sell  them  for  whatever  they 
will  bring.  Where,  I  will  ask,  w  ould  she  sell  these, 
and  make  her  great  sacrifice  7  Not  at  home,  to 
aifect  her  standard  market,  but  abroad,  where  the 
sacrifice  would  prostrate  and  produce  convulsions 
among  us  her  rivals,  who  had  but  little  capital,  and 
destroy  our  home  market,  which  in  all  countries 
must  be  the  main  market.  She  w^ould  not  feel  the 
loss  on  these  twenty  millions,  but  they  would  be  of 
magnitude  enough  to  ruin  us.  This  sweeping  off  the 
old  stock,  and  cleaning  out  the  warehouses  and 
shelves,  is  a  thing  of  universal  practice  among  mer- 
chants; and  whether  there  be  a  design  in  it  or  not 
would  make  no  difference,  for  the  effect  would  be 
the  same  on  our  manufactories.  Again,  if  she  did 
it  not  in  the  way  just  named,  she,  by  dint  of  her 
capital,  could  well  afford  to  raise  and  expend  mil- 


NOTES    ON    POLITICAL    ECONOMY.  17 

lions  a  year  to  keep  down  such  a  rival  as  we  might 
become,  and  retain  such  a  customer.  When  you 
add  to  the  above  her  high  vantage  ground,  her  great 
skill,  unlimited  capital,  low  wages,  cheap  and  ex- 
tended tonnage,  and  agents  and  facilities  planted 
every  where  to  aid  her  operations,  you  may  take  it 
for  granted  that  she  would  keep  her  ground  and 
make  us  ever  subservient. 

Suppose  a  free  trade  between  the  Baltic  and 
England  in  provisions  7  The  greater  cheapness  of 
corn  in  the  North  of  Europe  would  prostrate  Eng- 
lish agriculture  in  one  or  two  years.  Nothing  but 
her  corn  laws  prevents  this.  That  great  interest  in 
England,  built  up  by  the  restrictive  system  in  her 
corn  and  provision  culture,  would  be  thrown  to  the 
four  winds,  and  convulsions  ensue.  Would  France, 
Belgium,  and  the  North  of  Italy  ever  allow  fancy 
goods  to  be  made  in  any  country  without  a  restric- 
tive system  ?  Many  other  cases  might  be  brought 
up  to  prove  the  utter  impossibility  of  any  young 
country,  or  one  behind  in  skill  and  other  advan- 
tages, ever  coming  up  to  an  equality  with  old  ex- 
perienced nations. 

Had  our  corn  and  provisions  gone  into  England 
alone  free  of  duty  for  the  last  forty  years,  it  would 
have  been  worth  not  less  than  one  thousand  mil- 
lion dollars  to  us.  We  would  certainly  have 
sold  not  less  than  two  million  barrels  of  flour, 
worth  ten  million  dollars,  and  as  much  or  more  of 
other  provisions,  each  year  to  her;  and  we  could 

3 


18  NOTES    ON   POLITICAL    ECONOMY. 

have  easily  spared  that  much.  Who  among  na- 
tions now  has  the  presumption  to  preach  up  free 
trade  ?  England,  emphatically,  and  under  circum- 
stances that  ought  to  shame  her.  Without  letting 
our  provisions  in  at  all  worth  talking  about,  unless 
she  be  starving ;  after  taxing  our  tobacco  twelve 
hundred  per  cent. ;  our  rice  four  hundred  per  cent. ; 
and  after  taxing  nearly  all  articles  of  manufac- 
ture to  prohibition ;  seated  on  her  high  vantage 
ground,  arrogating  superiority  from  her  capital  and 
naval  supremacy,  she  has  the  presumption  to 
preach  up  to  us  free  trade.  She  don't  mean  that 
she  must  or  will  take  off  her  duties,  except  in  the 
case  of  a  few  articles  of  manufactured  goods  ;  and 
leaving  on  all  her  corn  laws,  would  reciprocate 
with  us  only  in  such  articles  as  she  had  the  start 
and  skill  in,  and  where,  through  her  capital  in  the 
way  above  named,  she  could  prostrate  us.  Such 
presumption  is  intolerable,  and  tantamount  to  in- 
sult. Whenever  free  trade  hereafter  be  suggested, 
it  will  either  be  from  old  advanced  notions  based 
on  interest,  or  from  designing  politicians  expecting 
to  make  capital  out  of  the  idea  by  humbugging  the 
ignorant.  I  feel  assured  that  the  idea  in  this  coun- 
try has  nothing  to  do  with  patriotism. 

Free  trade  has  been  the  eternal  cry  of  oftr  noisy 
politicians,  and  they  have  managed  to  engage  in  it 
a  large  and  almost  dominant  party  in  this  country, 
including  most  of  the  slave  holders  and  staple  dis- 
tricts.    No  one  pretends  to  an  equality  among  na- 


NOTES    ON    POLITICAL    ECONOMV.  19 

tions,  nor  can  it  exist  in  the  nature  of  things. 
Some  nations  stand  on  the  vantage  ground  in  every 
respect,  as  regards  hibor,  capital,  ships,  productions, 
manufactures,  and  skill,  as  we  have  said.  They 
have  gotten  the  start  of  others  in  a  way  that  can't 
be  mistaken.  Whether  this  be  the  effect  of  long 
time,  superior  skill,  more  capital,  greater  activity 
or  wisdom  in  their  councils,  matters  not;  we 
look  to  the  fact,  and  if  it  exists  we  must  govern 
ourselves  accordingly.  I  contend,  all  nations  that 
have  the  vantage  ground  and  this  start,  will  not 
only  keep  them,  but  make  them  still  more  availa- 
ble and  striking  the  longer  time  it  runs,  as  snow- 
balls gather  in  size  the  farther  they  roll,  or  gravity 
increases  in  momentum  and  celerity  the  farther  a 
body  falls.  England,  for  instance,  with  the  start 
she  has  got,  could  put  the  whole  world  under  con- 
tribution, and  keep  it  so,  if  she  met  no  obstruction. 
She  would  not  only  take  entire  possession  of  the 
new  world,  and  the  Indies,  including  China,  but  of 
Europe  itself.  She  would  clothe  France  and  Hol- 
land, and  Germany,  and  Italy,  as  well  as  all  other 
countries,  with  her  coarse  cotton  goods,  and  flood 
them  with  the  thousands  of  things  got  up  by  dint  of 
her  machinery,  capital,  and  skill,  in  the  cheap  way. 
There  would  be  no  limit  to  her  operations,  but  the 
want  of  means  in  other  nations  to  buy  with. 
France  and  the  Baltic  also  would  prostrate  the 
English  agriculture,  as  we  have  said,  and  what 
they  left  America  would   finish.      It  may  have 


20  NOTES    ON    POLITICAL    ECONOMY. 

taken    ages   to   place    a   nation   on   this   vantage 
ground,   but    the   leverage    that  would  give   her 
would  enable  her  to  keep  it.     Like  two  individuals 
struggling  in  a  narrow  pass,  the  one  who  stood  up- 
permost would  beat  back  the   one  below ;  or  as 
two  bodies  meeting,  of  different  sizes  and  momenta, 
the  largest  will  drive  back  the  other.     Make  trade 
free,  let  mankind  buy  where  they  can  the  cheapest, 
and  a  few  nations  will  master  all,  and  absorb  the 
capital  of  the  whole  world.     Who  are  the  advo- 
cates for  free  trade?     England,  Holland,  France, 
and  others,  who  can  produce  things,  of  the  manu- 
facturing class  particularly,  cheaper  than  others. 
They  would  then  feel  that  the  world  was  made  for 
them,  and  proceed  to  take  possession  of  it  accord- 
ingly.    The   nations  who   got  the  start   in   each 
thing  would  keep  it,  under  this  system;  England, 
the  cotton  goods,  cutlery,   and  iron ;    France,  the 
silks ;  China,  tea  and  china-ware ;  America  and 
the  Baltic,  grain ;    Ireland,   linen  ;    Turkey,   fine 
shawls   and    carpets;    the   Dutch,   toys;    Russia, 
hemp;  the  Indies,  sugar ;  United  States,  tobacco; 
France,  wine ;  and  all  other  things  as  the  advan- 
tage of  each  country  or  the  start  it  has  in  the  pro- 
duction of  them  warranted.     The  furnishing  nation 
would  supply  up  to  the  wants  or  the  ability  of  the 
one  furnished,  as  the  case  might  be.    Nations  there- 
fore are  under  an  absolute  necessity  of  countervail- 
ing each  other,  and  laying  on  duties  and  protect- 
ing tariffs  high  enough  to  ensure  the  home  market 


NOTES    ON    POLITICAL    ECONOMY.  21 

to  their  own  industry.     England,  with  her  advan- 
tages and   capital,  may    well    cry  aloud  for  free 
trade,  for  she  will  profit  most  by  it.     She  may  well 
put  arguments  into  her  customers'  mouths,  and  even 
write  tracts  and  distribute  them  among  ignorant 
people,  who  are  waking  up  to  their  own  interests, 
to  the  reality  of  their  situation,  and  would  fain  arrest 
the   impoverishing  process   before   it  be  too   late. 
England,  lately,  when  she  had  got  all  the  capital  or 
money  of  the  United  States  for  goods  that  they 
ought  to  have  made  at  home,  and  finding  the  thing 
growing  slack,  gave  her  credit  for  a  year  or  two  of 
supply  ahead.    She  even  loaned  the  States  two  hun- 
dred million  dollars  to  stimulate  them  to  do  anv  sort 
of  things,  for  England  knew  that  if  that  money  should 
be  wasted  there,  it  would  nevertheless  find  its  way 
back    to  her,  as  an   ability  to  buy   more   goods, 
which  it  did  in  the  most  literal  and  absolute  way. 
A  great  deal  of  that  money,  indeed  nearly  all  of  it, 
was  realized  through  exchanges,  in  the  shape  of 
goods  bought  in  England  and  brought  out  to  this 
country  for  the  laborers  and  their  employers,  to 
pay  them  instead  of  money   for  their    worthless 
work  on  the  roads  and  canals.     I  have  passed  hun- 
dreds of  miles  through  States  that  had  been  spend- 
ing millions  in  making  works  and  banking  on  these 
English  loans,  and  have  seen  scarcely  a  vestige  of 
improvements,  except  some  empty  unfinished  dig- 
gings.    These  millions   ran  back  to   England  so 
rapidly  for  goods,  that  they  had  not  touched  a  sin- 


22  NOTES    ON    POLITICAL    ECONOMt. 

gle  spring  of  industry,  built  a  town,  or  even  a  house, 
except  some  board  shanties  in  which  to  sell  these 
goods  and  liquors.  All  the  loose  capital  in  the 
shape  of  money,  leaves  any  country  that  buys  its 
supplies  from  abroad.  This  money,  being  in  hand 
and  ready,  offers  an  easy  means  of  paying  for  them, 
and  proves  that  the  more  money  a  nation  that  buys 
abroad  possesses,  the  worse  for  her.  Free  trade 
therefore  would  be  gain  and  great  w^ealth  to  some 
few  nations,  but  poverty  and  death  to  most  of 
them. 


CHAPTER    VI. 


POWER    TO    PROTECT. 


There  are  politicians  in  our  country  hardy  and 
reckless  enough  to  deny  the  power  or  right  to  pro- 
tect or  lay  restrictive  duties.  It  is  pretended  that 
the  Constitution  of  the  United  States  gives  no  such 
power,  or  if  it  does  allow  imposts,  yet  it  is  meant  for 
revenue  alone,  not  for  protection.  Of  all  the  bold 
and  far-fetched  constructions  of  this  instrument, 
except  perhaps  the  absurd  doctrine  of  nullification, 
this  is  the  most  barefaced.  The  power  is  given 
directly  to  lay  impost  duties,  and  why  confine  it  to 
revenue,  any  more  than  to  manufactures  or  com- 
merce 7  Were  it  not  thus  given,  it  would  apper- 
tain to  the  power  to  take  care  of  the  general  wel- 


NOTES    ON    POLITICAL    ECONOMY.  ^ 

fare,  or  to  establish  commerce,  and  even  lo  the 
vital  existence  of  a  nation.  I  take  all  this  as  party 
fiipirit — as  an  effort  to  say  something  for  effect  with 
the  ignorant,  who  once  were  taught  by  true  patri- 
ots of  the  Washington  stamp  to  reverence  that  in- 
strument. No  one  will  seriously  question  the  right 
all  nations  have  to  encourage  either  manufactures, 
agriculture,  or  commerce,  as  circumstances  favor 
the  one  or  the  other.  No  one  will  question  the 
right  a  nation  has  to  offer  bounties  or  lay  protect- 
ing duties  intended  to  ensure  the  production  of  any 
article  of  luxury  or  necessity,  or  what  might  be 
necessary  to  the  independence  of  the  country.  No 
one  will  seriously  question  the  right  that  one  nation 
has  to  countervail  another  that  may  pass  some  re- 
striction that  would  lead  to  the  injury  of  her  com- 
merce, or  bear  injuriously  upon  her. 

To  deprive  a  nation  of  the  right  to  encourage 
her  industry  and  her  arts,  to  develope  all  or  any 
of  her  resources,  or  to  meet  other  nations  on  equal 
terms,  would  cripple  her  very  existence.  This  doc- 
trine w^ould  strike  at  her  vitals,  and  throw  her 
bound  hand  and  foot  into  the  power  of  her  enemies. 
She  could  not  then  be  independent,  could  not  ad- 
vance her  prosperity,  or  aim  at  wealth  and  com- 
fort. The  very  right  to  preserve  her  existence  and 
independence,  would  imply  such  a  power.  It 
would  appertain  to  her  as  a  nation,  and  without  it 
she  w^ould  be  but  a  province  of  other  powers,  and 
a  foot-ball. 


24  NOTES    ON    POLITICAL    ECONOMY. 

All  the  practice  of  the  government,  from  the  rat- 
ification of  the  federal  Constitution  up  to  this  time, 
has  been  in  favor  of  such  a  power.  The  acts  of 
congress,  the  decisions  of  the  federal  court,  the 
intercourse  with  foreign  nations,  the  continued 
collections  of  our  imposts,  have  all  been  in  support 
of  the  power.  The  authority  of  our  greatest  poli- 
ticians, from  Washington  the  father  of  his  country, 
and  Hamilton  the  ablest  and  most  practical  politi- 
cian that  we  ever  had,  including  Mr.  Jefferson, 
Mr.  Madison,  and  even  Gen.  Jackson,  have  vouch- 
ed the  authority.  Is  it  not  strange  that  there 
should  be  any  party,  or  set  of  politicians,  at  this 
day,  after  all  the  facts,  and  practice,  and  action  of 
the  government  that  we  have  named,  with  all  this 
staring  them  in  the  face,  bold  enough  or  unprinci- 
pled enough  to  still  assert  the  unconstitutionality 
of  the  power  and  deny  its  existence?  The  doubt- 
ful policies  and  principles  of  all  nations  become 
settled  by  such  grave  decisions,  such  high  authori- 
ties, such  continuous  practices,  and  it  is  right  that 
they  should  be  so  disposed  of  and  settled.  Our 
parties,  however,  obey  no  authority,  regard  no  de- 
cisions, however  solemn,  submit  to  no  practices  or 
usages,  no  matter  how  long  kept  up  and  how  delib- 
erately made.  They  seem  to  wish  to  keep  all 
afloat,  to  have  all  in  doubt,  to  favor  their  designs 
and  any  unprincipled  course  aimed  at.  One  of  the 
worst  features  of  our  politics  is  this  uncertain, 
varying,  distracted  state    of    things,   and    points 


NOTES    ON    POLITICAL    ECONOMY.  26 

strongly  to  anarchy  and  confusion.  The  steadi- 
ness of  a  government,  and  tlie  justness  of  its  admin- 
istration depend  much  on  having  all  great  poli- 
cies fixed,  all  doubtful  principles  settled,  and  some 
sacred  tribunal  to  which  to  appeal  in  disputed 
cases.  Since  the  authority  of  the  federal  court  has 
been  questioned,  as  it  is  by  a  large  and  powerful 
party,  there  seems  to  be  no  arbiter,  nothing  to  stay 
the  ruthless  hands  of  party  innovation,  and  give 
confidence  and  stability. 


CHAPTER    VII 

MANUFACTURES. 


The  great  interests  of  this  country  are  Agricul- 
ture, Commerce,  Manufactures,  the  Fisheries,  the 
Currency,  and  the  Forests,  or  Lumber.  As  the 
country  at  this  time  is  most  excited  about  manu- 
factures, and  lays  the  greatest  stress  on  that  interest, 
I  shall  first  treat  of  that,  and  consider  whether  it 
requires  any  aid  from  the  government  or  not.  The 
power  and  right  to  protect  being  undoubted,  it  be- 
comes a  question  of  policy  whether  that  great 
interest  should  be  left  to  individual  exertions,  in 
other  words,  to  chance ;  or  call  down  the  attention 
and  protection  of  the  government,  to  ensure  its 
proper  success  and  development.     Circumstances, 


26  NOTES    ON    POLITICAL    ECONOMY. 

as  I  have  said  before,  must  determine.  1  do  not 
hesitate  one  moment  to  declare  it  as  my  most  de- 
liberate opinion,  as  well  as  that  of  the  wisest  poli- 
ticians of  the  nation,  that  our  present  circumstances 
do  favor  a  more  extended  system  of  manufactures, 
and  do  require  the  protection  of  the  government 
in  many  branches,  until  fast  established.  The  suc- 
cess attendant  upon  what  we  have  already  done 
under  a  fair  protection,  and  the  wide-spread  opera- 
tions of  our  handicraft  mechanics,  warrant  the 
conclusion  that,  in  other  and  greater  branches, 
with  a  fair  protection,  we  would  also  succeed,  and 
not  only  enrich  the  country,  but  render  it  comforta- 
ble and  independent.  It  is  our  best  and  leading 
policy  to  so  encourage  and  protect,  and  becomes 
our  bounden  duty  as  a  nation.  In  order  to  prove 
that  our  circumstances  do  sufficiently  favor  manu- 
factures to  warrant  a  protective  tariff,  I  will  show 
that  we  have  an  abundance  of  labor,  capital, 
capacity,  raw  materials,  fuel,  iron,  water  power, 
demand,  climate,  facility  of  intercommunication, 
cheap  provisions,  savings  in  freight,  commissions, 
storage,  mean  profits,  and  cost  of  materials,  from 
all  which  we  would  have  vantage  ground  over  all 
other  nations.  With  all  these  advantages,  we 
should  not  hesitate  in  making  them  available,  up  to 
our  own  wants  at  least. 

First :  Surplus  Labor.  We  need  only  to  open 
our  eyes  to  be  convinced  of  this  fact.  Nothing 
strikes  a  foreigner  so  forcibly,  on  his  arrival  in  this 


NOTES    ON    POLITICAL    ECONOMY.  ^ 

country,  as  the  great  number  of  idle  persons,  young 
and  old,  male  and  female,  that  he  sees  in  every  city, 
village,  or  settlement,  lounging  and  dissipating  in  a 
way  to  show  that  they  have  nothing  on  earth  to 
do.     This  proves  the  fact,  in  a  general  point  of 
view,  that  there  is  surplus  labor.     I  will  show  this 
fact  of  surplus  labor,  however,  more  specially  and 
more  in  detail.     The  census  and  our  own  observa- 
tions prove  that  three-fourths  of  the  whole  popula- 
tion are  engaged  in  agriculture,  and  most  of  them 
producing  provisions,  or  rather  live  in  the  provision- 
growing  districts.     It  is  admitted  that  the  profits 
of  corn,  wheat,  pork,  beef,  flour,  cheese,  butter,  lard, 
rice,  potatoes,  and  all  vegetables  and  eatables,  are 
very  small,  and  the  market  very  limited  for  them. 
They  can  sell  only  a  certain  quantity  to  foreign 
countries,  because  those  countries  take  them  only 
as  they  are  obliged  to  have  them,  to  avoid  suffering 
and  starvation.     It  is  admitted  by  all,  both  the 
people  concerned  in  growing  these  provisions  and 
the  politicians,   the   political    economist   and   the 
thousands  of  newspapers  spread  among  them,  that 
this   provision-growing  population  could  produce 
three  times  as  much  as  it  now  does,  if  it  had  mar- 
ket  enough,  and  the  proper  inducement.     Hence 
they  are  all  the  time  abusing  England  and  other 
countries,  for  closing  their  ports  against  our  pro- 
visions, and  their  restrictive  laws  or  tariffs.     About 
the  year  1802,  when  scarcity  and  wars  opened  the 
ports  of  Europe  for  a  year  or  two  to  our  provisions, 


28  NOTES    ON    POLITICAL    ECONOMY. 

we  did  produce  more  than  double  our  usual  quan- 
tity, under  even  that  doubtful  inducement.  These 
facts  prove  that  there  are  too  many  laborers  in  the 
provision  department  of  our  agriculture,  and  that 
less  than  half  can  produce  all  that  could  be  sold. 
The  others  are  vrorking  slack,  and  a  clog  upon  the 
whole  operation.  It  proves  that  the  products  are 
already  too  great  and  overdone;  that  they  are 
groaning  under  the  burthensome  accumulation  of 
provisions,  actually  spoiling  on  hand  for  the  want 
of  a  market.  The  great  complaint  of  the  farmer 
is,  "  we  have  no  market,"  and  are  weighed  down 
by  our  granaries,  barns,  store-houses,  and  dairies. 
Go  to  the  great  West,  where  fertility  is  without 
limit,  and  talk  with  the  farmers;  they  will  tell  you 
of  their  evils,  and  point  significantly  to  their  over- 
loaded fields  and  barns.  Urge  them  to  greater 
agricultural  efforts,  they  will  laugh  in  your  face, 
and  think  you  an  ignoramus.  They  will  tell  you 
that  they  are  raising  hog  and  hominy,  to  use  a 
western  phrase,  and  eating  them,  and  making  lin- 
seys  and  wearing  them,  and  are  independent  with- 
out money,  a  market,  or  refinement. 

I  will  then  assume  the  fact,  and  there  are  abun- 
dant proofs  of  it,  that  one-third  of  the  laborers  now 
engaged  or  living  in  the  provision  districts  can  grow 
all  that  a  market  can  be  found  for.  In  other  words, 
had  they  markets  and  a  proper  inducement,  could 
grow  three  times  as  much  as  they  now  do,  without 
any  over-effort.     This  proves  that  our  agricultural 


NOTES    ON    POLITICAL    ECONOMY.  28 

department  can  spare  all  the  labor  wanted  for  man- 
ufactures. Twelve  millions  being  engaged  in  this 
pursuit,  counting  old  and  young,  and  one  half  old 
and  strong  enough  to  be  daily  laborers,  could  well 
spare  one  million,  counting  the  proper  proportion 
of  women  and  children,  for  manufacturing  purposes, 
and  make  none  the  less  of  provisions.  Taking  our 
data  from  Lowell  and  some  other  of  the  most  com- 
fortable, orderly,  and  productive  establishments  in 
the  w^orld,  w^e  see  that  full  three-fourths  of  the 
operatives  are  women  and  children.  This  shows 
that  a  large  proportion  of  the  able-bodied  hands 
could  still  be  left  on  the  farms  for  rough  and  heavy 
work.  Light  hands  in  a  factory,  particularly  women, 
are  just  as  productive  as  men.  and  thus  ensure  a 
wider  and  more  extended  productiveness,  accord- 
ing to  population,  than  agriculture  ever  could  make 
available. 

Again,  there  are  in  and  about  our  cities,  towns, 
and  villages,  thousands  of  idle  persons  producing 
nothing,  amounting,  if  women  and  children  be 
counted,  to  not  less  than  half  a  million.  These 
people  are  not  only  not  producing,  but  what  is 
worse,  dissipating,  contracting  bad  habits,  and  cor- 
rupting others  for  the  want  of  employment.  They 
might  be  induced  to  go  to  work,  were  an  opportu- 
nity afforded  to  them.  The  families  of  fishermen, 
whalers,  and  sailors,  and  also  of  the  numerous  trav- 
elling agents,  merchants,  and  runners,  might  furnish 
much  labor  tol  any  manufactory  in  their  neighbor- 


30  NOTES    ON    POLITICAL    ECONOMY. 

hood,  and  be  made  available.  Labor  thus  abstracted 
from  the  cities,  from  agriculture  and  other  pursuits, 
would  leave  nothing  impaired;  the  rather  would 
unclog  and  ameliorate,  and  render  more  virtuous, 
happy,  and  comfortable,  not  only  the  laborers  thus 
abstracted,  but  the  departments  from  which  they 
should  be  taken. 

Should  all  these  sources  of  labor  fail  to  furnish 
enough,  which  is  very  improbable,  there  is  still 
another  wide  field  to  enter,  that  is  untouched,  and 
that  could  easily  furnish  three  or  four  hundred  thou- 
sand laborers.  I  mean  the  slaves  that  are  not  en- 
gaged in  the  heavy  staple  cultures.  Maryland. 
Virginia,  Kentucky,  Tennessee,  North  Carolina, 
Missouri,  and  other  districts  entirely  out  of  the 
sugar,  cotton,  tobacco,  and  hemp  regions,  have 
1,500,000  slaves  engaged  in  the  provision  districts, 
whose  labor  is  but  of  little  profit  to  their  owners. 
According  to  the  proportions  above  established,  one 
third  of  these  slaves  can  grow  all  the  provisions  that 
the  whole  are  now  producing.  More  than  half  could 
therefore  be  spared  for  other  operations,  without 
affecting,  otherwise  than  favorably,  their  present 
pursuits.  Not  less  than  300,000,  then,  could  be 
turned  to  manufactures,  under  the  proper  induce- 
ment. Let  it  not  be  here  said  that  slaves  would 
not  do  for  manufacturers,  for  experience  and  facts 
prove  it  untrue.  Wherever  the  negro  slave  has 
been  put  to,  or  entrusted  with,  manufactories,  he 
has  showed  himself  both  trustworthy  and  efficient. 


NOTES    ON   POLITICAL    ECONOMY.  31 

Twenty  thousand  cotton  gins,  by  enumeration, 
exist  in  the  cotton  districts  of  the  United  States, 
and  are  all  in  the  care  and  management,  in  a  man- 
ner, of  slaves ;  and  many  are  constructed  by  them, 
particularly  the  buildings  and  gearings.  These 
are  very  delicate  machines,  very  dangerous  ones, 
and  easier  destroyed  by  fire  than  any  others,  be- 
cause the  vrhole  atmosphere  in  and  about  them  is 
inflammable,  from  the  flos  cotton  flying  about;  yet 
not  more  losses  occur  in  them  than  in  other  manu- 
factories in  the  United  States.  The  number  of 
houses  and  gins  burned  in  the  slave  states  do  not 
exceed  that  of  the  free;  and  of  all  these  20,000 
gins,  not  more  than  about  ten  are  annually  burned, 
v^rhich  w^ould  not  be  one-fourth  of  one  per  cent.  All 
the  hemp  manufactories  in  Kentucky  and  Missouri 
are  carried  on  by  slaves,  from  the  growing  and  pre- 
paring the  hemp,  to  the  spinning  and  weaving,  with 
complete  success.  Several  cotton  and  woollen  fac- 
tories in  Virginia,  Kentucky,  Tennessee,  Georgia, 
Alabama,  and  the  Carolinas,  are  carried  on  by  ne- 
groes. The  heaviest  iron  establishment  in  the 
United  States,  that  of  Yeatman,  Woods  &  Co., 
Tennessee,  is  carried  on  by  slaves,  including  the 
digging,  roasting,  coaling,  refining,  casting,  naileries, 
rolling  foundries,  and  machine  shops  appendant 
thereto,  and  all  the  skill  of  each  department  fur- 
nished by  slaves.  Many  other  establishments  in 
the  slave  states  are  conducted  in  like  manner  by 
slaves ;  and  most  of  the  blacksmiths,  shoemakers, 


32  NOTES    ON    POLITICAL    ECONOMY. 

carpenters,  wagon-makers,  and  thousands  of  other 
handicraft  employments  in  the  south,  are  carried 
on  by  slaves,  greatly  to  the  comfort  and  wealth  of 
the  owners. 

The  negro  slave  is  fitted  by  nature  for  an  opera- 
tive; is  healthy,  strong,  steady  in  his  nerves,  and 
highly  imitative  in  his  habits.  You  own  this  labor, 
can  regulate  it,  work  it  many  or  few  hours  in  the 
day,  accelerate  or  stimulate  it,  control  it,  avoid  turn- 
outs and  combinations,  and  pay  no  ^vages.  You 
can  dress  it  plainly,  feed  it  coarsely  and  cheap, 
lodge  it  on  simple  forms,  as  the  plantations  do,  house 
it  in  cabins  costing  little,  and  all  the  skill  you  im- 
part to  it  is  your  own,  and  not  to  enable  it  to  rise  up 
and  extort  on  you  as  the  free  labor  often  does,  and 
quit  you  in  time  of  need.  On  the  score  of  humanity, 
the  slave  is  better  off  in  a  comfortable  warm  house 
in-doors,  than  exposed  half  clad  on  the  farms,  amid 
swamps  and  rain,  and  would  be  more  cheerful  and 
happy.  Another  view  equally  dear  to  humanity, 
and  worth  still  more,  is  the  idea  of  exempting  to 
that  extent  free  people,  and  particularly  delicate 
females  and  children,  from  factory  drudgery 
and  labor.  As  we  are  destined  to  hold  slaves 
through  a  series  of  years  yet,  perhaps  a  century  or 
two,  let  us  bestow  upon  them  the  worst,  most  un- 
healthy and  degrading  sort  of  duties  and  labor,  to 
the  exemption  of  free  persons.  This  would  shock 
humanity  no  more  than  slavery  does,  and  make 
freedom  more  dignified  and  valuable. 


NOTES    ON    POLITICAL    ECONOMY.  33 

There  is  another  way  of  looking  at  this  sub- 
ject, that  places  it  on  a  footing  totally  different  from 
all  other  kinds  of  labor.  The  slaves  are  owned, 
and  not  regarded  in  the  districts  I  speak  of  as  capi- 
tal. The  owner  will  not  sell  them  from  the  proper 
feelings  of  humanity;  nor  will  he  free  them,  be- 
cause he  feels  and  knows  that  they  would  be  in  a 
worse  condition.  He  therefore  stands  in  a  curious 
relation  to  his  slaves,  and  a  sort  of  tacit  understand- 
ing exists  between  them,  that,  as  long  as  the  slave 
can  feed  and  clothe  himself,  the  master  will  identify 
himself  with  him.  There  are  not  less  than  half  a 
million  of  slaves  in  the  United  States  in  that  situ- 
ation, and  on  that  footing.  I  am  warranted,  there- 
fore, in  pronouncing  them  no  capital  to  their  owners. 
Suppose  the  slaves  so  circumstanced  be  put  to  man- 
ufacturing, for  which  we  have  showed  above  they 
are  well  qualified,  what  will  their  wages  be  ?  The 
elements  of  their  wages  to  the  owners  would  be 
the  food  and  clothing  they  consume,  for  unfortu- 
nately they  more  than  insure  themselves  by  their 
increase.  I  can  feed  and  clothe  snugly,  within 
doors,  and  in  a  warm  room,  a  slave  for  twenty  dollars 
a  year,  and  in  a  way  to  be  more  comfortable  than  on 
a  plantation.  Now  divide  twenty  dollars  among 
three  hundred  working  days  in  the  year,  and  it  is 
about  six  and  a  quarter  cents  a  day,  the  wages  that 
such  labor  would  cost.  In  the  free  portions  of  the 
United  States  such  labor  costs  forty  cents,  and  in 
Europe  from  twenty  to  twenty-five  cents  a  day. 
Such  a  wide  difference  must  count,  and  some  day 

4 


34  NOTES    ON    POLITICAL    ECONOMY. 

turn  the  world  upside  down.  All  the  advantages 
are  in  favor  of  slave  labor,  and  humanity  also;  ex- 
cept perhaps  that  in  this  mode  productive  slavery 
might  be  prolonged  and  easier  controlled. 

We  will  now  sum  up  as  to  the  amount  of  surplus 
or  idle  labor  in  this  country,  and  see  what  might  be 
made  available  for  manufacturing  purposes.  From 
the  agricultural  districts  one  million;  from  the  cities, 
villages,  marine  and  fishing  districts,  half  a  million ; 
from  the  slave  districts,  four  hundred  thousand ;  and 
from  other  bye  places,  one  hundred  thousand: 
making  in  all  not  less  than  two  millions  that  might 
be  gathered  up  and  made  useful  for  manufacturing 
or  other  new  occupations.  This  abstraction  would 
leave  agriculture  in  a  much  more  wholesome  condi- 
tion, not  only  unclogged,  but  in  possession  of  a  new 
and  increasing  market  or  demand,  and  a  set  of  cus- 
tomers that  would  have  the  ability  to  consume.  It 
would  also  break  up  those  dens  of  vice  in  our  cities 
and  villages  that  are  now  sustained  by  the  idle. 
The  above  vast  amount  of  labor  would  be  greatly 
increased  from  the  very  circumstance  of  protection 
giving  a  certainty  of  employment,  by  bringing  or 
inducing  thousands  of  the  best  and  most  skilful 
laborers  from  Europe,  and  establishing  them  in  this 
country.  No  dcubt,  therefore,  can  remain  as  to  the 
abundance  of  labor  in  the  United  States  to  estab- 
lish and  work  manufactories  up  to  our  own  con- 
sumption. We  have  more  available  laborers  than 
England  and  this  country  both  employ  in  the  cotton, 
woollen,  iron,  silk,  and  other  large  interests.     Eng- 


NOTES    ON   POLITICAL    ECONOMY.  35 

land  employs  in  these  branches  not  more  than  half 
a  million  laborers,  and  makes  annually,  including 
her  own  consumption,  not  less  than  four  hundred 
million  dollars  worth.  How  overwhelming  the 
idea,  that  we  have  idle  people  enough  to  produce 
four  hundred  million  dollars  a  year  !  Confine  it, 
however,  to  our  own  home  supply  only,  yet  we 
might  save,  by  making  it,  the  seventy  or  eighty 
million  dollars  worth  of  goods  that  we  import  from 
abroad,  without  in  the  least  straining  after  foreign 
markets,  or  risking  any  thing  at  all.  A  protection 
that  would  secure  to  us  our  home  market  w^ould 
save  us  this  eighty  millions  a  year,  and  soon  enrich 
us.  Applying  any  more  labor  to  any  branch  of 
agriculture  would  be  the  utmost  folly ;  it  would  be 
like  the  process  of  hammering  a  guinea ;  you  may 
give  to  it  more  expansion,  but  no  more  value ;  indeed 
impair,  the  rathei*,  its  sterling  stamp  and  character. 


CHAPTER   VIII. 


CAPITAL, 


Let  us  now  inquire  whether  we  have  capital 
enough  to  give  to  this  labor  an  outfit  of  machinery. 
As  a  proof  that  capital  is  abundant,  interest  in 
New- York  and  our  other  great  cities  is  only  four 
per  cent.,  and  great  inquiries  daily  made  for  objects 


36  isroTEs  on  political  economy. 

of  investment,  and  anxieties  continually  manifested 
for  the  employment  of  capital.  In  circulation  and 
banks,  and  on  hand  in  individual  coffers,  there  are, 
by  the  best  official  estimates,  two  hundred  and 
fifty  million  dollars.  Agriculture,  even  the  plant- 
ing and  great  staples,  as  well  as  the  provision 
growing,  affords  too  small  profit  to  induce  invest- 
ment in  it  in  any  shape.  Commerce  is  perhaps 
more  overdone  than  agriculture,  and  offers  as  little 
inducement  to  capitalists  to  turn  capital  into  it. 
The  retail  business  is  weighed  down  by  competi- 
tion, as  well  as  the  wholesale  and  importing;  ship- 
ping is  already  too  numerous,  and  freights  too  low 
to  invite  investments  in  that  way;  what  stocks  are 
good  are  bought  up  in  England,  and  what  are 
doubtful  cannot  induce  real  capitalists,  scarcely  the 
reckless  speculators.  Who  that  sees  the  country 
groaning  under  agricultural  products,  the  parade  of 
goods  in  all  the  streets  of  all  the  towns,  and  the 
doubtful  character  of  most  of  the  stocks,  would 
invest  in  them  7  All  the  extension  now  given  to 
agriculture  is  a  case  of  necessity ;  simply  for  that 
sort  of  scant  support  and  meagre  independence  that 
a  farming  life  gives ;  to  raise,  as  the  western  men 
say,  hog  and  hominy,  and  mayhap,  chickens  and 
vegetables,  and  eat  them ;  and  spinning  linsey,  and 
wearing  it.  The  two  hundred  and  fifty  millions 
above  named,  then,  is  without  any  permanent 
object  of  investment,  and  might  be  induced  into  any 
new  channel  of  business,  if  a  prospect  of  profit  and 
permanency  ran  together.     It  might  well  be  em- 


NOTES    ON    POLITICAL    ECONOMY.  37 

ployed,  under  a  protecting  tariff,  in  machinery,  and 
developing  our  iron  and  coal,  or  any  other  branches 
requiring  an  outfit  of  machinery  and  stock. 

Should  a  judicious  protecting  tariff  be  passed 
by  our  congress,  establishing  a  fixed  policy,  and 
offering  sufficient  inducement  to  manufacturers,  not 
only  our  own  capital  would  be  turned  in,  but  any 
amount  that  we  might  want  would  come  from 
England.  This  would  be  the  more  desirable, 
because  it  would  be  an  accumulation  or  addition  to 
that  amount,  bring  its  skill  with  it,  and  go  to  w^ork 
on  a  sure  basis.  Nothing  is  wanting  to  draw 
money  from  England,  where  it  is  worth  only  two 
or  three  per  cent.,  but  a  permanency  and  stability 
in  our  policies  and  laws.  We  have  every  motive, 
therefore,  to  cease  our  versatile  course,  and  settle 
down  in  a  way  to  give  confidence  to  our  institutions 
and  pursuits.  Confidence,  permanency,  and  profits, 
are  all  necessary  to  induce  capitalists  to  invest  and 
give  their  attention  as  well  as  their  money. 

Whenever  a  proper  object  presents  itself,  and  a 
certainty  of  profit  is  held  out  in  this  country,  an  in- 
genious, thrifty  people,  such  as  we  are,  would  never 
want  capital,  were  it  five  times  as  scarce  as  it 
is.  Profit  is  a  magic  creative  term  in  this  country, 
and  calls  up  capital  in  the  shape  of  credit,  labor, 
and  materials  for  preparation ;  and  w^hen  the  fix- 
tures and  machinery  are  made,  the  establishment 
carries  itself  on.  Naked  or  mere  labor,  pledged 
under  circumstances  where  almost  certain  profits 
await  it,  becomes  capital,   and  serves  until   the 


38        NOTES  ON  POLITICAL  ECONOMY. 

profits  return  upon  it  in  the  shape  of  a  realization. 
When  credit  is  connected  with  a  real  transaction^ 
and  avoids  speculation,  it  soon  becomes  the  capital 
needed,  and  thus  any  vacuum  in  that  respect  is 
filled  up  and  supplied.  Credit  and  labor  seem  to 
double  back  on  their  own  operations,  and  become 
all  the  reality  of  capital,  as  soon  as  some  certainty 
be  given  to  the  prospect  of  profits.  In  verification 
of  this,  we  will  find  many  instances  around  us. 
When  the  growth  of  a  city,  for  instance,  requires 
more  houses,  they  spring  up  like  magic,  and  are  the 
fruits  of  labor,  with  almost  no  capital  in  the  shape 
of  money.  When  the  great  West  wanted  300 
steamboats  to  meet  its  increasing  commerce,  and 
had  not  one  dollar  with  which  to  build  them,  labor 
and  materials  came  forward,  aided  by  credit, 
and  soon  put  the  boats  afloat,  and  that  whilst  the 
timid  were  wondering  how  it  was  to  be  done.  So 
it  would  be  in  the  case  of  manufactures,  if  the  pro- 
tection were  given.  I  have  seen  a  whole  cotton 
crop  in  the  south  purchased  by  bills  drawn  on 
time  or  credit,  and  the  cotton  go  forward  and  be 
sold  to  meet  them,  without  any  active  capital  being 
at  all  consumed  in  the  operation. 

Our  banks  have  a  wish  at  this  time  to  do  busi- 
ness, and  make  loans  ;  and  they  would  be  ready  to 
aid  any  safe  and  real  transaction.  They  have  suf- 
fered so  much  by  speculators  and  adventurers,  that 
they  would  naturally  incline  to  favor  any  industrial 
operation  going  on  in  their  neighborhood ;  and, 
with   their  positive  means  and  unlimited    credit, 


NOTES    ON   POLITICAL    ECONOMY.  39 

could  furnish  any  amount  of  capital  wanted  for 
legitimate  purposes.  We  are  now  on  the  upward 
spring  of  business,  with  much  credit,  and  without 
any  runs  on  banks,  or  want  of  confidence  in  each 
other;  all  which  circumstances  would  draw  money 
out  of  banks  to  any  extent,  for  certain  business, 
without  creating  any  alarm,  and  also  from  such 
capitalists  as  did  not  choose  to  invest  in  manufac- 
turing, and  required  interest  only.  The  friends, 
therefore,  of  manufactures,  have  no  fears  as  to  the 
sufficiency  of  capital,  if  the  protection  were  had, 
and  a  confidence  lit  up  as  to  the  permanency  of  the 
policy. 


CHAPTER   IX. 

CAPACITY    AND    INTELLIGENCE. 

The  citizens  of  the  United  States  are  noted  for 
their  practical  shrewdness  and  inventive  genius. 
The  daily  manifestations  of  skill  and  contrivance 
in  executing  difficult  works,  strike  all  who  look 
abroad  and  witness  such  operations.  The  man- 
agement and  contrivance  of  the  Yankees  are  pro- 
verbial, and  their  tact  in  bringing  things  to  bear  on 
or  fit  one  another.  They  have  more  tact  in  getting 
up  a  business,  more  contrivance  in  carrying  it  on. 
and  more  invention  to  aid  its  operation,  than  any 
other  people.     New  inventions,   new  machinery, 


40  NOTES    ON    POLITICAL    ECONOMY. 

and  new  principles,  are  continually  announced. 
Godfrey,  Rittenhouse,  Fulton,  Evans,  Wliitney, 
Whitinore,  Reed,  Brewster,  Bigelow,  and  a  hun- 
dred others,  have  added  invaluable  improvements 
to  mechanics,  and  aids  to  labor.  In  all  factories 
and  shops,  as  well  as  in  the  patent  office,  do  we 
find  records  and  samples  of  these  inventions  in 
practical  operation.  No  prejudice,  or  heavy  pre- 
vious investments  in  old  forms,  lie  in  the  way  of 
adopting  all  improvements  here,  and  making  them 
immediately  available.  We  feel  the  necessity  of 
using  the  best  to  enable  us  to  compete  with  older 
nations,  where  wages  are  lower  and  more  skill  en- 
gaged. The  English  are  slow  to  adopt  any  new 
invention ;  having  three  hundred  millions  invested 
in  old  machinery,  they  dislike  to  throw  it  away, 
and  fear  to  change  that  fixed  and  monotonous  habit 
which  their  operatives  have  got  into,  in  connection 
with  old  machinery.  The  English  proprietor 
goes  for  dividend,  and  knows  nothing  new,  cares 
not  for  it,  or  studies  its  operation.  The  operatives 
under  him  are  ground  down  to  minimum  wages, 
and  with  the  heavy  excise  taxes  upon  them,  can't 
stop  to  invent,  or  think  enough  about  forms  to  strike 
out  any  nev^^  idea;  indeed,  reject  all  that  are  offer- 
ed as  hazardous,  and  likely  to  lead  to  some  change 
or  suspension  of  his  wages. 

Our  free  institutions  give  to  the  minds  of  our 
people  much  elasticity  and  independence  of  thought. 
They  are  habitually  accustomed  to  inquire,  exam- 
ine every  thing,  and  combine  whatever  materials 


NOTES   ON    POLITICAL    ECONOMY.  41 

they  have  to  do  with,  in  all  ways  most  natural  and 
effectual.    This  habit  of  inquiry  and  freedom  of 
thought  appertains  to  all,  even  the  operator  and 
common  mechanic,  who  have  not  only  this  vigor  of 
intellect  thus  cherished,  but  time  to  think  and  ex- 
periment much,  because  his  wages  are  good  and 
the  means  of  living  so  certain  and  easy  that  he 
can  afford  to  hazard  something.     It  is  generally 
the  common  mechanic  or  operator  who  is  with  and 
near  the   machinery  that  makes  or  suggests  im- 
provements, and  n^ost  of  the  valuable  patents  and 
inventions  issue  from  such  persons.     A  country  of 
free  institutions,  unprejudiced   feelings,   and  easy 
and  cheap  means  of  living,  can  afford  to  pause  from 
intense  daily  operations  to  think  and  invent.     An 
intelligence  runs  here  with  the  mass,  and  imparts 
not  only  an  aptitude  for  mechanical   or  factory 
operations,  but  gives  character  to  the  laborers,  and 
leads  to  a  confidence  between  the  employers  and 
the  operatives  that  is  worth  much.    Hence  much  of 
what  is  performed  is  job  work,  implying  character 
and  confidence,  and  stimulates  the  laborer  to  do 
nearly  twice  as  much  as  the  mere  hireling.     The 
character  or  quality  of  the  laborers  are  worth  as 
much  or  more  than  any  difference  in  wages  to  the 
proprietors  and  the  country.    The  English  opera- 
tor is  a  wagon  horse,  and  a  slow"  one  at  that,  w^ork- 
ing  moodily  and  slowly  for  his  food  and  rags  of 
clothing  ;    cares  not  for  results,  and  has  no  spring, 
no  hopes,  no  aspirations  beyond  the  dull  routine. 
This  quality  of  our  labor,  based  upon  intellect  and 


42  NOTES    ON    POLITICAL    ECONOMY. 

character,  will  put  the  world  under  contribution 
when  rightly  started,  and  working  under  a  certain- 
ty of  a  market  and  a  permanent  policy. 

We  have  the  activity  of  body  as  well  as  of  the 
mind  to  subserve  us  in  manufacturing  operations. 
Our  people  have  an  elastic  spring,  leading  to  much 
quickness  and  continuity  in  their  action,  and  are 
more  hardy,  and  can  endure  more  than  the  Eng- 
lish. Their  greater  quickness  in  action  is  mani- 
fested in  handling  things,  such  as  arms,  shooting, 
ship  tackle,  sailing  ships,  firing  cannon,  chopping 
wood,  and  any  manufacturing  operations  requiring 
manipulation.  We  beat  the  world  in  sailing  ships, 
fishing,  and  moving  from  place  to  place.  In  our 
manufactories  often,  English  and  Americans  are 
both  working  together,  and  invariably  do  the  na- 
tives execute  more  than  foreigners,  particularly  in 
job  work.  This  greater  action  arises  in  part  from 
our  climate,  which  is  of  a  dry,  sunny,  exciting 
character;  and  from  the  sudden  and  continual 
changes,  the  constitution  becomes  tough,  and  the 
muscles  elastic  and  pliant.  We  are  not  so  round 
of  limb,  and  of  so  full  a  person  as  the  English,  but 
have  more  of  the  active,  hardy,  available  qualities. 
Our  people  eat  more  animal  food,  exercise  more, 
live  more  in  the  open  air,  or  out  doors ;  and  move 
over  more  space  in  transacting  ordinary  business 
than  the  Europeans,  and  thence  acquire  a  quicker 
and  more  enduring  action.  The  detached  settle- 
ments of  this  country,  obliges  us  to  travel  much 
and  move  over  great  space  in  transacting  our  busi- 


NOTES    ON   POLITICAL    ECONOMY.  43 

ness,  embracing  many  remote  points  and  changes 
in  climate.  At  sea,  Cape  Horn  is  not  even  a  resting- 
place  ;  and  China,  South  America,  and  Europe, 
common  trading  places.  On  land,  from  New  Or- 
leans to  Maine,  from  New  York  to  Missouri,  from 
the  upper  lakes  of  Canada  to  Charleston  and  the 
Gulf,  and  the  threading  of  our  great  w^estern  rivers 
and  wide  opening  prairies,  are  common  trips,  un- 
dertaken annually  by  thousands  of  our  commonest 
citizens,  on  some  sort  of  business  or  speculation. 
The  clearing  away  of  our  numerous  forests,  and 
the  bulk  of  our  population  being  engaged  in  agricul- 
ture, has  contributed  no  little  to  this  hardy  and  quick 
action.  No  matter  whence  it  arises,  we  feel  cer- 
tain that  we  do  possess  it,  and  need  only  a  fair 
opportunity,  a  proper  inducement,  to  draw  it  out 
and  make  it  available  for  national  wealth  and  in- 
dividual comfort.  We  intended  the  term  capacity, 
in  this  chapter,  to  embrace  our  bodily  and  mental 
qualifications  only,  in  regard  to  a  successful  manu- 
facturing operation,  and  shall  not  crowd  under  it 
here  any  other  aids  and  qualifications  we  may 
possess,  or  our  country  furnish,  to  aid  the  policy. 


CHAPTER    X. 


RAW    MATERIALS. 


We  have  raw  materials  in  great  variety  an  d  of 
the  best  quality,  in  the  United  States,  to  aid  the 


44  NOTES    ON    POLITICAL    ECONOMY. 

whole  routine  of  manufacturing  operations.  The 
raw  materials  enter  into  such  a  business  to  the 
extent  of  one  fourth  of  the  capital  employed,  w  ith 
Europeans  living  remote  from  them ;  and  they  have 
to  keep,  for  their  own  safety,  a  stock  on  hand  equal 
to  that  extent,  which  of  course  swells  their  capital, 
and  is  a  disadvantage  to  them.  When  a  people 
have  all  the  raw  materials  in  abundance  around 
them,  it  seems  to  invite  them  to  manufactures,  if  their 
circumstances  suit,  and  to  make  it  a  sort  of  duty  to 
work  them  up  and  avail  themselves  of  them.  The 
God  of  nature  seems  to  have  thrown  them  in  their 
way  for  wealth  and  comfort ;  and  if  their  politicians 
do  not  insure  the  proper  employment  of  them  they 
should  stand  condemned  for  a  dereliction  of  their 
duty. 

It  never  could  be  intended,  in  the  nature  of 
things,  long  at  a  time,  that  tw^o  freights,  two 
storages,  two  commissions,  and  two  profits,  should 
be  paid  or  sustained  in  any  case,  and  ought  not  to 
be  so.  Take  the  case  of  cotton,  which  is  grown 
here.  It  has  to  be  put  up  by  strong  compression, 
perhaps  injuring  its  quality;  encounters  a  freight, 
storage,  commission,  profit,  and  a  duty,  in  going 
out  to  England;  and  more  and  similar  charges 
up  to  Manchester,  and  the  same  charges  back 
again  here,  on  its  return  in  the  shape  of  textures 
for  our  consumption.  All  these  charges  swell  the 
cost  of  the  raw  material,  which  we  would  avoid  in 
the  main,  and  to  that  extent  stand  on  the  vantage 
ground  over  England. 


NOTES    ON    POLITICAL    ECONOMY.  45 

We  have  cotton  in  unlimited  quantity,  and  of  the 
best  quality,  which  is  now  a  very  important  and 
leading  raw  material  in  the  manufactures  of  the 
age.     No  nation  can  compete  with  us  in  producing 
this  article,  and  nothing  can  occur  to  intercept  its 
continued  production  or  diminish  its  volume.     We 
can  supply  ourselves,  and  all  other  countries  in  ad- 
dition, without  any  more   effort  or  higher  price. 
We  have  the  climate,  soil,  skill,  and  the  sort  of 
labor  suited  to  its  culture,  and,  if  we  wished  to  do 
so,  could  not,  dare  not,  quit  Us  cultivation.     If  we 
were  to  make  the  ten  million  dollars  worth  of  cot- 
ton goods  that  we  now  import,  it  would  only  re- 
quire about  sixty  thousand  bales  more  of  our  cot- 
ton, out   of    a  crop  of  two  million    bales,  which 
would  not  much  impair  our  export  of  the  article, 
and  would  leave  us  enough  to  put  Europe  under 
contribution,  for  they  must  have  it.     When  I  say 
that  Europe  must  have  our  raw  cotton,  I  mean  that 
it  is  her  interest  to  take  it,  because  it  will  be  the 
cheapest  and  best.     We  will  continue  to  grow  it 
cheaper  than  any  other  people,  and  such  will  be 
the  competition  among  the  spinners  of  Europe,  that 
no  one  will  dare  to  give  a  bounty  for  cotton,  or  pay 
more  for  it  than  their  neighbor,  or  lay  a  tax  upon 
it.     Every  pound  of  the  raw  cotton  that  we  might 
spin  under  a  proper  protection  will  be  our  own ; 
and  were  we  to  impart  the  five  additional  values 
to  the  raw  which  the  wrought  amounts  to,  it  would 
be  all  that  clear,  and  done  by  a  population  that 
would  be  otherwise  idle  and  producing  nothing. 


46  NOTES    ON    POLITICAL    ECONOMY. 

Innumerable  are  the  advantages  resulting  from  the 
possession  of  so  valuable  a  raw  material  as  cotton. 
Besides  those  named  above,  it  would  contribute  no 
little  to  our  independence  as  a  nation,  and  put  us 
in  possession  of  an  article  by  the  aid  of  which  we 
might  paralyze  Europe  any  year  we  pleased,  or 
force  from  her  any  terms  we  might  insist  upon  for 
the  advantage  of  our  shipping  and  commerce.  I 
will  speak  more  particularly  hereafter  of  our  cotton 
crop,  and  the  influence  it  exerts  upon  our  labor 
and  income. 

The  raw  material  of  iron  is  without  limit  also 
in  this  country,  and  stands  in  value  perhaps  even 
ahead  of  cotton.  Iron  is  the  right  hand  of  human 
operations,  and  a  sine  qua  non  in  fact  in  all  the 
arts,  comforts,  and  even  luxuries  of  man.  Did  we 
not  ourselves  show  the  instance,  I  would  have 
said  no  nation  on  earth  is,  or  could  be,  inconside- 
rate enough,  or  so  wanting  to  her  own  interests  and 
independence  as  to  import  this  indispensable  article 
of  human  necessity.  Tell  an  Englishman,  or  a 
Swede,  or  a  Frenchman,  or  even  a  Russian,  that  such 
a  nation  exists,  pretending  to  the  arts  and  sciences, 
and  a  high  degree  of  civilization  and  prosperity, 
and  they  would  not  suppose  it  possible,  and  scout 
the  very  idea.  Every  thing  stands  arrested 
at  the  very  threshold  of  advancement  without 
this  very  necessary  aid — this  Samson  of  the  age 
— that  supports  all  fabrics,  from  a  plough  up  to  a 
ship,  a  bridge,  or  a  house,  and  takes  the  place  of 
wood  and  stone  in  all  our  operations.    It  is  equally 


NOTES    ON    POLITICAL    ECONOMY.  47 

necessary  to  the  fine  arts,  and  our  comforts  and 
luxuries  in  the  small  every  day  concerns  and  fix- 
ings. How  could  any  nation — how  did  we  dare  go 
to  war  with  a  powerful  nation — dare  to  put  on  a 
non-intercourse  with  the  world,  without  this  indis- 
pensable raw  material  1  When  I  speak  of  iron  as 
a  raw  material  in  abundance,  I  mean  the  ore, 
which  lies  unwrought  in  the  bowels  of  the  earth, 
wdiilst  our  wise  politicians  are  importing  from 
Europe  nearly  one  half  that  we  use.  There  is 
scarcely  a  state  in  this  Union,  except  the  alluvial 
of  Louisiana,  and  the  flat  prairies  of  Illinois,  but  has 
plenty  of  iron  ore.  Mountains  of  it  lie  untouched 
in  Missouri ;  the  compass  will  not  traverse  for  it 
in  parts  of  Arkansas,  Tennessee,  Kentucky,  Penn- 
sylvania, New- York,  New- Jersey,  Vermont,  New- 
Hampshire,  Maryland,  Virginia,  particularly,  show 
it  in  quantities  that  would  serve  the  whole  world 
for  ages,  and  of  a  quality  unsurpassed.  No  deep 
mining  or  drifting  becomes  necessary  to  work  it ; 
lying  on  the  surface  every  where,  it  seems  to  invite 
attention.  From  New  England  to  Arkansas,  from 
the  Northern  Lakes  to  the  Gulf,  from  Pennsylvania 
to  Missouri,  it  abounds  ;  and  along  side  of  it  the  fuel 
and  other  facilities  to  work  it.  The  reason  that 
we  do  not  work  iron  up  to  our  want  without  pro- 
tection is,  the  large  capital  it  requires  for  furnaces, 
blasts,  ore  beds,  fuel,  and  much  machinery  of  a 
complicated  and  particular  sort,  and  the  want  of 
skill  necessary  to  the  operation.  Our  indepen- 
dence as  a  nation,  as  well  as  our  interests  and  com- 


48  NOTES    ON    POLITICAL    ECONOMY. 

forts,  is  immediately  concerned  in  the  abundant 
supply  of  iron;  and  our  government  should  imme- 
diately insure  its  production,  by  a  duty  high 
enough  and  permanent  enough  to  satisfy  all,  and 
leave  no  doubt  of  success.  This  age  more  than  the 
past  cries  aloud  for  iron,  because  the  application  of 
it  is  endlessly  varied.  That  nation  that  has  not 
iron,  or  pays  two  prices  for  it,  is  sure  to  be  thrown 
aback  in  the  great  progress  of  the  arts  and  of  civil- 
ization. Those  who  possess  it  will  pass  her  by,  and 
laugh  at  the  folly  that  placed  or  kept  her  in  that 
condition.  Iron,  more  iron,  give  us  iron,  is  the  cry 
of  all  who  aim  to  ameliorate  the  condition  of  man, 
or  make  useful  and  permanent  improvements. 

We  have  fuel  of  every  sort  in  any  abundance, 
which  is  in  the  nature  of  a  raw  material,  or  at  least 
it  subserves  the  manufacturing  of  all  raw  materi- 
als. Our  forests  are  in  a  manner  unbroken,  and 
furnish  charcoal  or  crude  wood  without  price,  for  all 
the  purposes  to  which  it  may  be  applicable,  and 
always  right  alongside  of  the  iron,  lead,  and  cop- 
per. Centuries  will  not  make  scarce  this  common 
and  primitive  fuel,  which  for  certain  operations  an- 
swers better  than  stone  coal,  particularly  in  mak- 
ing tough  bar  iron.  These  forests  spread  before 
the  door  of  every  individual;  from  which  he  derives 
comfort  and  warmth  ;  and  surround  every  manufac- 
turing village  with  their  facilities  and  comforts. 
Stone  coal  underlays  nearly  one  fifth  part  of  the 
United  States.  You  may  travel  in  the  West  fif- 
teen hundred  miles  in  length  by  five  hundred  in 


NOTES    ON    POLITICAL    ECONOMY. 


"49 


breadth  over  a  bituminous  coal  mine  of  the  very 
best  sort  and  easily  got  at,  frequently  without  any 
mining  or  sinking  a  shaft,  because  it  stares  you  in 
the  face  above  the  lowest  levels  of  the  country. 
Many  detached  beds  of  the  same  are  found  near 
Richmond  in  Virginia,  Cumberland  in  Maryland,  and 
Blossberg  in  Pennsylvania,  large  enough  for  the 
supply  of  ages.  Anthracite  abounds  in  Pennsylva- 
nia, lying  above  the  ground  in  mountain  masses 
of  the  best  and  purest  sort,  and  inexhaustible  in  quan- 
tity. Coal  at  the  mine  can  be  delivered  for  sixty 
cents  to  a  dollar  a  ton,  and  carried  cheaply  to  any 
point  where  it  may  be  w^anted.  The  manufactur- 
ing villages  should  be  located  at  the  entrance  to 
the  mines,  where  fuel  will  alw^ays  be  at  minimum 
prices.  Nations  in  the  w^orld  are  advanced,  and 
w^ealthy  or  powerful,  exactly  in  proportion  as  they 
work  and  develope  their  coal  and  iron.  England 
has  put  the  whole  world  under  contribution  by  her 
coal  and  iron,  and  has  made  money  enough  to  pur- 
chase the  half  of  mankind  if  she  chose. 

We  have  lead  in  more  abundance  than  any  por- 
tion of  the  globe,  and  have  fortunately  worked  and 
developed  it  without  any  further  protection,  for  the 
simple  reason  that  it  required  very  little  capital  or 
skill  to  prepare  it.  An  Irishman  or  Yankee  digs 
it  with  his  hands,  and  smelts  it  upon  fires  made 
with  logs  of  wood,  without  any  assistance  from  skill 
or  capital.  The  case  of  iron  and  lead  shows  us,  in  a 
strong  and  convincing  way,  the  difference  in  get- 

5 


m 


50  NOTES    ON    POLITICAL    ECONOMY. 

ting  up  something  without  skill  and  capital,  and 
another  thing  requiring  both  ;  the  one  will  be  done 
like  the  handicrafts,  and  the  other  left  undone  un- 
til protection  gives  the  proper  inducement.  We 
are  now  not  only  producing  lead  up  to  our  own 
wants,  but  exporting  a  great  deal  of  it  to  Europe, 
and  even  to  China. 

We  have  plenty  of  copper  ore  in  Illinois,  Mis- 
souri, and  Michigan,  and  are  beginning  to  work  it. 
This  operation  is  slow,  because  it  requires  more 
skill  and  capital  to  mine  for  it  and  smelt  it  than 
the  lead  business ;  hence  we  wait  for  a  protection 
that  will  promise  permanency.  On  the  shores  of 
Lake  Superior  there  is  said  to  be  copper  enough  for 
the  world.  As  soon  as  ordinary  manufactures 
gain  protection  and  confidence  enough  to  start,  this 
copper  will  be  found  ready  to  aid  them  as  a  raw 
material  to  any  extent,  and,  as  lead,  may  become 
an  article  for  export. 

We  have  all  the  salts  constituting  the  raw  ma- 
terial, particularly  the  alkalis,  saltpetre,  alum, 
copperas,  common  salt  of  soda ;  and  they  could  be 
soon  combined  into  the  shapes  wanted  for  man- 
ufactures, including  the  acids. 

We  have  the  marbles  of  every  variety  and 
beauty,  the  limestones,  the  granites,  the  slates,  the 
magnesias,  the  gypsums,  the  silex  or  sand,  and  the 
clays,  such  as  the  alumina  for  the  acids  and  salts, 
the  kaolins  for  fine  wares,  the  plastic  and  fire  clays 
for  all  purposes.     The  acids,  the  gases,  and  salts 


NOTES    ON    POLITICAL    ECONOMY.  51 

can  all  be  made  here  to  subserve  any  quantity  of 
manufactures  that  we  may  enter  upon,  and  most 
probably  for  export. 

We  have  gold  in  quantity,  covering  five  hundred 
miles  squarCj  and  mixing  in  the  soil ;  some  silver, 
plenty  of  cobalt  and  zinc,  and  many  precious  stones 
w^orth  working  into  the  arts.  This  native  gold  be- 
ing pure,  is  suited  to  the  arts  better  than  coin, 
which  is  mixed  with  alloy.  Tin  is  the  only  useful 
metal  that  is  not  yet  found  in  this  country,  and 
would  constitute  the  only  exception  to  the  long 
catalogue  of  things  necessary  to  the  most  extended 
manufactures,  unless  diamonds  be  reckoned. 

Besides  woods  for  fuel,  we  have  a  great  and  un- 
limited variety  of  them  for  the  arts,  and  particular- 
ly for  the  cabinet-maker,  carriage- maker,  house- 
joiner,  ship-builder,  and  even  for  the  construction  of 
the  smaller  ornamental  articles  of  luxury.  The 
dye-stuffs,  to  a  great  extent,  are  found  naturally 
growing,  and  should  our  manufactures  start  into  a 
capital  existence,  pari  passu  with  them,  and,  as  a 
part  of  the  system,  indigo,  madder,  woad,  cochineal, 
and  the  earths  so  used,  would  be  immediately  pro- 
duced, not  only  for  the  demand,  but  for  exporta- 
tion. 

We  have  wool,  or  can  have  it,  in  abundance. 
Already  the  cultivation  of  that  article  nearly  meets 
our  wants,  and,  having  all  the  varieties  of  sheep 
now  under  cultivation,  it  can  Soon  swell  up  to  any 
demand,  and  leave  a  large  surplus  for  exportation. 
We  see,  therefore,   that  the  same   stimulus  that 


52  NOTES    ON    POLITICAL    ECONOMY. 

would  start  manufactures,  would  give  an  impulse 
to  many  raw^  materials  even  for  exportation,  after 
supplying  the  home  market.  We  have  also  fur, 
collected  from  a  wide  extent  of  country,  extending 
across  the  Rocky  Mountains  to  the  very  Pacific. 
Hair,  also, and  bristles,  and  whalebone,  abound  here 
as  raw  materials,  subserving  many  of  the  arts  in 
a  way  to  meet  even  the  luxuries  of  a  people. 

We  are  now  commencing  the  silk  culture,  and 
have  already  proved  that  we  can  grow  it  of  a  bet* 
ter  quality  than  Europe,  and  to  any  extent.  The 
climate  favors  the  insect,  as  w^ell  as  the  mulberry 
tree  upon  which  it  feeds.  A  little  more  induce- 
ment would  pour  forth  silk  enough  to  clog  the  mar- 
kets of  the  w^orld,  after  meeting  our  own  wants, 
and,  very  probably,  without  such  further  induce- 
ment it  will  be  done.  This  culture  does  not  require 
much  capital,  and  the  skill  is  soon  acquired.  On 
the  principle  of  the  handicrafts,  therefore,  it  will 
succeed,  and  engage  the  labor  of  women  and  chil- 
dren, without  calling  them  off  from  their  farms  and 
houses,  as  other  manufactures  would  have  to  do, 
in  order  to  secure  their  services,  and  be  for  that 
reason  preferred. 

We  have  the  lints  to  any  extent,  particularly 
flax  and  hemp,  and  are  already  doing  much  in  their 
production,  especially  the  latter,  and  in  the  work- 
ing of  it  up  into  fabrics.  Flax  grows  well,  and  be- 
sides its  lint  furnishes  to  the  arts  the  oil  and  cake. 

We  have  all  the  oils,  and  lard,  and  sperm,  and 
stearin,  already  produced  for  export,  and  standing 


NOTES    ON    POLITICAL    ECONOMY.  53 

ready  to  subserve  any  extent  of  manufacturing 
operations  or  the  arts  that  may  be  instituted,  for 
lights,  lubrication,  ordinary  grease,  or  any  combi- 
nation that  they  may  enter  into.  These  materials 
are  cheaper  and  more  abundant  in  this  country  than 
any  other,  and  are  now  exported  to  a  great  extent. 
We  have  tobacco,  which  is  a  raw  material  in 
many  respects,  and  sugar  and  rice,  which  enter  into 
many  operations  requiring  the  art  of  the  manufac- 
turer or  chemist.  The  medicinal  vegetables  grow 
well  here,  such  as  rhubarb,  the  castor  bean,  jalap, 
senna,  and  many  others.  In  all  abundance  we  have 
alcohol  and  spirits,  and  all  the  grains  suited  to  beer 
and  to  them.  All  the  above  enumerated  long  list  of 
raw^  materials  are  so  universally  distributed,  that 
every  district  either  possesses  them  or  lies  in  reach 
of  them ;  and  on  all  would  the  saving  of  freights, 
storages,  commissions,  profits,  and  insurances,  that 
we  spoke  of  above,  be  saved  in  a  way  to  give 
signal  advantages  to  our  manufacturers  over  all 
others.  These  raw  materials  will  be  in  better  or- 
der, and  in  a  sounder  condition,  when  used  fresh 
and  near  the  place  where  produced,  than  after  en- 
countering long  sea  voyages,  and  damps,  and  dirt, 
incident  to  much  handling  and  rolling  about.  The 
cotton,  particularly,  after  the  high  pressure  neces- 
sary to  a  European  voyage,  has  to  be  at  some  ex- 
pense opened  out  with  pickers,  and  restored  to  its 
flos  state  and  life  again. 


^r 


54  NOTES   ON    POLITICAL    ECONOMV. 


CHAPTER    XI. 

PROVISIONS,  WATER   POWER,    TAXES,    POOR    LAWS, 
MACHINERY. 

We  have  provisions  more  abundant,  cheaper, 
and  of  a  better  quality  in  this  country,  than  any  other 
in  the  world.  This  is  no  small  advantage  in  manu- 
facturing operations.  The  operatives  are  comfort- 
able and  happy,  and  can  w^ork,  if  necessary,  cheap- 
er where  provisions  are  so  cheap  and  abundant, 
than  in  countries  differently  circumstanced.  We 
would  be  saved  that  continual  distress  that  the 
laborers  of  Europe  are  subjected  to,  by  the  scar- 
city and  high  price  of  provisions.  Good  order  and 
contentment  in  the  operatives  work  well  in  manu- 
factures, and  render  labor  doubly  efficient.  The 
aid  that  our  teeming  agriculture  would  give  to  our 
manufacturers,  would  be  deeply  felt  in  the  realiza- 
tion of  comfort,  good  order,  and  happiness  among 
the  operatives  ;  and  would,  as  now  at  Lowell,  pre- 
sent scenes  that  would  please  instead  of  shock 
humanity  or  the  moralist. 

In  no  country  does  water  power  more  abound 
than  in  the  United  States.  As  it  costs  less  than 
steam  power  for  heavy  and  permanent  operations, 
it  would  give  us  much  advantage.     At  the  head  of 


NOTES    ON    POLITICAL    ECONOMY.  tl6 

navigation  in  all  our  rivers,  from  Maine  to  Alaba- 
ma, and  immediately  connected  with  health,  ship 
or  steamboat  navigation,  there  are  falls  in  all  our 
rivers  ;  at  each  of  which,  not  less  than  fifty,  might 
a  Manchester  be  built,  as  far  as  power  is  concern- 
ed. In  the  West  also  they  abound,  particularly  near 
Pittsburgh,  Cincinnati,  Zanesville,  Akron,  Dayton, 
Rock  Island,  on  Rock  River,  Fox  River,  Desmoines, 
Osage,  Muscle  Shoals  of  Tennessee,  Harpeth,  and 
on  the  Wabash  River.  These  powers  are  of  the 
best,  most  permanent,  and  easily  applied.  Most  of 
these  water  privileges,  too,  are  in  regions  noted  for 
their  fertility,  and  affording  a  large  consuming  pop- 
ulation near  them;  and,  as  we  have  said,  have  navi- 
gation facilities  to  carry  off  the  goods  and  bring 
the  raw  materials  to  their  proper  markets. 

The  expenses  of  our  government  are  infinitely 
less  than  in  England  and  France,  and  of  course 
taxes  must  be  in  proportion  in  the  two  countries. 
Our  taxes  are  not  high  enough  to  become  excise, 
or  to  reach  the  poll  in  this  country ;  and,  falling  on 
real  estate  or  capital,  are  less  felt  by  laborers.  In 
England,  a  vast  weight  of  this  taxation  becomes 
excise,  and  falls  on  the  poor  and  operatives,  and 
must  not  only  affect  wages  but  comforts  in  a 
great  degree.  In  working  down  wages  in  that 
country  to  the  minimums,  from  excessive  competi- 
tion, they  must  leave  enough  for  bare  subsistence, 
and  in  the  ascending  scale  meet  this  millstone  of 
taxation  that  hangs  around  the  necks  of  all.  The 
grinding  taxation  of  the  government  is  heard  and 


9^  NOTES    ON    POLITICAL    ECONOMY. 

felt  as  much  or  more  in  proportion  in  the  hovels  of 
the  poor,  in  their  wages,  than  in  the  halls  of  the 
rich.  All  this  difference,  therefore,  in  the  burthens 
of  the  two  countries,  in  the  prices  of  provisions  and 
the  costs  of  raw  materials,  redounds  to  the  advan- 
tage of  this  country,  and  places  us  conspicuously  on 
the  vantage  ground. 

The  poor  laws  and  tithes  of  England  are  a 
further  burthen,  on  the  capitalist  particularly. 
When  the  proprietors  of  the  manufacturing  villages 
and  cities  of  that  country  come  to  add,  at  the  end 
of  the  year,  the  thousands  that  they  pay  to  broken 
down  operatives,  who  all  gain  a  parish  settlement, 
and  the  charity  necessary  to  the  support  of  turn- 
outs and  suspension  or  slack  working  of  their  mills, 
it  no  little  swells  the  amount  of  wages.  Scarcely 
any  of  the  operatives  in  England  realize  any  thing 
for  old  age,  and,  when  it  comes,  lean  on  the  poor 
rates.  Thousands  of  them  have  no  providence  or 
saving  qualities,  even  if  their  wages  admitted  of  it, 
because  they  spend  it  all  in  drink.  Not  only  the 
men,  but  women  and  children,  attend  the  gin-shops 
of  nights  and  Sundays,  and  spend  their  last  cent, 
until  they  not  only  become  fit  subjects  for  a  poor- 
house,  but  hospitals.  They  contract  the  habit 
until  they  are  sots,  if  they  have  surplus  pennies 
enough  to  enable  them  to  do  it,  and  then  become 
thrown  out  of  employment,  but  still  are  subjects  for 
the  poor  laws  and  charities.  This  habit  not  only 
adds  to  the  burthens  of  taxes,  but  deeply  affects 
the  quality  and  character  of  the  labor  in  that  coun? 


NOTES    ON    POLITICAL    ECONOMY.  57 

try;  for  you  will  see  men  at  work,  stupid  from  the 
revels  of  the  over  night  or  Sunday,  sullen  and  mo- 
rose, caring  nothing  for  the  interests  of  the  employ- 
er, and  giving  no  character  to  their  work.  It  is 
widely  different  in  America,  where  active,  smart 
men  and  women,  with  substance  and  character  at 
home,  go  into  the  factories,  and  give  character  to 
every  operation.  They  are  educated,  religiously 
moral,  truthful,  trustworthy,  and,  by  doing  job- 
work,  earn  more  wages  in  the  day  in  pushing  the 
work  and  giving  close  attention.  They  save  money, 
realize  wealth,  and  increase  their  comforts,  suf- 
ficiently to  enable  most  of  them  to  establish  them- 
selves in  society  with  respectability.  They  never 
think  of  poor-rates,  and  by  their  character  are 
placed  entirely  above  them.  This  difference  in  the 
labor  of  the  two  countries  is  worth  millions. 

Machinery  tends  to  equalize  labor  and  wages. 
The  Americans  are  proverbial  for  their  inventions 
in  machinery,  and  their  tact  in  adopting  any  and 
all  improvements  made,  and  having  them  of  the 
very  best  vsort  and  latest  invention.  When  a  five 
hundred  horse-power  works  in  aid  of  human  labor, 
requiring  only  a  few  to  attend  it,  and  doing  the 
work  of  a  thousand,  the  w^ages  of  the  few  attend- 
ants, however  they  may  differ  in  the  detail,  be- 
come of  little  consequence  in  the  grand  operation. 
In  such  a  case,  we  look  to  results  rather  than  small 
differences,  and  place  the  American  alongside  of 
the  Englishman.  Rents,  too,  are  higher  in  Eng- 
land than  in  this  country,  and  become  an  increased 


58  NOTES    ON   POLITICAL    ECONOMY. 

charge  on  both  labor  and  capital.  When  we  come 
to  sum  up  and  realize  all  these  advantages,  they  more 
than  make  up  any  difference  in  the  mere  wages  of 
the  two  countries,  and  place  us  decidedly  on  the 
vantage  ground  in  regard  to  manufacturing  opera- 
tions. 


CHAPTER   XII. 


INTERCHANGES  IN  AID  OF  MANUFACTURES. 

The  commerce  of  the  United  States  is  active 
and  well  organized ;  and  stands  ready  to  aid  manu- 
factures, in  bringing  to  them  the  raw  material  and 
provisions,  and  in  carrying  off  and  distributing 
the  goods  to  the  consuming  markets,  at  home  and 
abroad.  This  commerce  takes  up  the  foreign  and 
coasting  trade  with  equal  facility,  despatch,  and 
cheapness,  and  becomes  active  or  enlarged,  as  re- 
quired for  any  legitimate  purpose.  We  have  per- 
fected also  many  long  lines  of  intercommunication, 
by  railroads,  canals,  and  steamboat  lines :  thus 
giving  all  possible  facility  to  our  internal  trade  and 
home  market.  These,  like  the  arteries  of  the  sys- 
tem, diffuse  wealth  and  trade  every  w^here,  and 
carry  supplies  of  provisions,  raw  materials,  and 
manufactured  goods  wherever  wanted  or  consumed. 


NOTES    ON    POLITICAL     ECONOMY.  69 

The  articles  made  thus,  without  accumulation,  or 
much  expense  or  delay,  find  their  ultimate  market. 
These  gigantic  works  connect  the  raw  material 
districts  with  the  manufacturing — the  producing 
districts  with  the  consuming — the  Atlantic  states 
with  the  Mississippi  valley — the  northern  lakes 
with  the  Gulf  of  Mexico ;  reducing  transportation 
to  the  minimum,  and  enabling  every  part  of  the 
interior  to  procure  and  consume  up  to  their  ability. 
Such  a  system  stimulates  not  only  production,  but 
promotes  consumption,  by  throwing  all  within  the 
reach  of  all ;  and  carries  a  creative  influence  along 
with  it  to  the  very  Ultima  Thule,  to  originate  new 
cultures,  develope  new  resources,  and  increase 
both  production  and  consumption.  It  brings  things 
into  value  and  usefulness  that  lay  untouched  be- 
fore such  a  facility  was  extended,  and  widely  en- 
larges our  available  means. 

These  intercommunications  establish  a  system 
of  beautiful  trade  and  interchanges  throughout  the 
whole  extent  of  the  United  States.  This  system 
works  free  and  brotherly :  no  revenue  laws  or  im- 
posts lie  across  its  free  paths  and  open  channels,  to 
avert  or  interrupt  its  current  of  trade.  No  vexa- 
tious custom-house  crew  to  overhaul  parcels,  ques- 
tion invoices,  and  worry  all  concerned.  Each  state 
and  district  barters  freely  with  its  neighbors,  pours 
forth  its  productions,  and  realizes  its  wants  ad  libi- 
tum. The  tide  of  commerce  and  trade,  swelled  by 
a  thousand  tributary  streams  that  continually  flow 
in,  acquires  an  overwhelming  current — fertilizing 


60  NOTES    ON    POLITICAL    ECONOMY. 

and  enriching  all  as  it  flows  onwards.  Distance  is 
nothing,  and  time  scarcely  estimated  in  such  a  ra- 
pid interchange,  that  like  the  sun  sheds  forth  its 
light  and  heat,  vivifying  all;  not  a  wandering,  flar- 
ing, uncertain  comet,  that  appears  once  in  an  age, 
and  brings  alarm  and  disease  rather  than  health 
and  cheerfulness.  The  United  States,  by  these 
aids,  will  be  to  each  other  what  the  several  nations 
of  Europe  might  be  to  one  another,  without  any 
restrictive  systems,  custom-houses,  countervailing 
laws,  and  cherished  jealousies. 

Let  us  regard  a  picture  of  these  states,  in  bro- 
therly feeling  mutually  dependent  upon  each  other, 
all  united,  and  enriching  each  other  by  a  mutual 
interchange  of  wants  and  productions.  Nothing 
in  the  prospective  can  more  delight  the  patriot  than 
such  a  scene — such  a  pledge  of  prosperity  and  com- 
fort. The  different  districts  and  states  through 
such  a  medium  will  pour  forth  their  peculiar  pro- 
ducts into  the  great  mart.  Louisiana  its  sugar  and 
indigo  ;  the  Carolinas,  Georgia,  Alabama,  and  Mis- 
sissippi, their  mighty  volume  of  cotton  ;  Kentucky 
and  Virginia  their  tobacco ;  Missouri  and  Kentucky, 
hemp  ;  Illinois,  Iowa,  and  Missouri,  lead  and  cop- 
per ;  Ohio,  West  New  York  and  Pennsylvania, 
flour,  wheat,  butter,  cheese,  and  live  stock ;  the 
newer  states  along  with  Ohio,  pork,  lard  and  beef; 
Vermont,  the  hills  of  New  England  and  Pennsyl- 
vania, wool  and  silk ;  New  England,  New  York, 
and  Pennsylvania,  manufactured  goods  in  every 
variety  ;  Pennsylvania  and  the  West,  coal  and  iron. 


NOTES    ON    POLITICAL    ECONOMY.  61 

and  the  manufactures  based  upon  them;  North 
Carolina  and  Maine,  lumber ;  New  York,  foreign 
goods  and  productions;  New  England,  their  jfishe- 
ries ;  the  Far  West,  its  furs.  All  places,  districts,  and 
corners  will  send  out  what  they  may  have  peculiar 
or  surplus  ;  whether  of  agricultural,  manufactur- 
ing, commercial,  mining,  or  the  forest  productions; 
whether  of  nature  or  art.  How  grand  will  roll  on 
the  tide  of  w^ealth  and  trade  !  how  pleasing  and 
absorbing  the  very  contemplation  of  such  a  scene ! 
the  lights  and  shadows  of  such  a  picture  ! 

It  would  seem  to  convince  a  stranger  that  a  na- 
tion that  had  done  so  much  for  its  internal  trade, 
and  the  intercourse  of  the  people,  was  deeply  en- 
gaged in  manufacturing  and  supplying  its  own  wants 
through  such  mediums.  What  would  be  the  sur- 
prise, however,  when  told  that  all  this  was  done  to 
facilitate  foreign  trade,  and  to  let  into  our  very  bo- 
som all  foreign  articles  of  manufacture!  We  shall 
have  been  working  for  foreigners  unless  we  protect 
our  own  industry  sufficiently  to  avail  ourselves  of 
these  works.  As  things  now  stand  we  give  all  possi- 
ble facility  to  the  introduction  of  foreign  goods  that 
we  ought  to  make  ourselves  ;  and  not  only  invite 
them  by  low  duties  to  our  shores,  but  diffuse  them 
to  every  part  in  a  certain  and  cheap  way.  We  have 
taxed  ourselves  hundreds  of  millions  to  make  these 
canals  and  railroads,  to  let  strangers  enjoy  them,  and 
through  them  to  paralyze  our  industry  and  draw 
from  our  very  bowels  our  last  cent.  We  have  been 
working  for  others;  have  been  straining  our  credit, 


62  NOTES    ON    POLITICAL    ECONOMY. 

making  debts  and  loans  enough  to  both  disgrace  us 
and  grind  down  our  posterity  into  the  very  dust  for 
the  benefit  of  other  nations.  Instead  of  our  own 
articles  and  goods  being  carried  on  them,  we  open 
them  to  strangers,  whom  we  meet  in  the  remotest 
interior,  not  only  availing  themselves  of  our  works 
to  prostrate  our  industry  with  their  goods,  but  laugh- 
ing at  our  simplicity,  insulting  our  forbearance,  and 
claiming  to  have  us  for  eternal  customers.  The  debts 
the  states  have  contracted  abroad,  unless  counteract- 
ed by  encouraging  our  own  industry  at  home,  will 
reduce  us  to  mere  colonies  of  England  for  the  next 
age.  Paying  twelve  or  fifteen  millions  interest  abroad 
annually  will  take  all  our  surplus  money,  and  leave 
nothing  for  an  increased  wealth  or  comfort ;  fifty 
millions  paid  and  expended  at  home  would  not  be 
half  as  much  felt,  nor  produce  half  the  stagnation 
and  privation.  In  such  payments  there  is  no  remead, 
no  return  made  of  the  money  thus  gone  for  ever  :  it 
doubles  not  back  upon  the  exhausted  country,  and 
touches  no  new  springs  of  industry  to  atone  for  the 
loss ;  unlike  the  home  expenditures,  no  matter  how 
heavy,  which  are  still  in  the  country  and  a  part  of 
its  wealth.  Our  works,  therefore,  doubly  injure  us 
unless  we  protect  our  own  industry ;  first,  by  let- 
ting our  enemy,  a  very  viper,  into  ^ur  bosom  to 
flood  us  with  worthless  manufactures  ;  secondly,  by 
having  created  this  two  hundred  millions  of  foreign 
debt  to  sap  our  resources  for  ages,  and  disgrace  us 
in  the  bargain. 

All  the  things  and  circumstances  we  have  been 


NOTES    ON    POLITICAL    ECONOMY.  63 

enumerating  show  that  we  have  the  vantage 
ground  over  all  the  world  in  respect  to  manufac- 
tures, if  we  had  a  sufficiently  protective  tariff  to 
start  them.  Our  surplus  lahor,  and  the  active,  high, 
intelligent,  moral  character  of  it ;  our  varied  raw 
materials  ;  our  facility  of  intercommunication  ;  our 
active  commerce ;  our  capital ;  our  water  power ; 
coal,  iron,  wood,  lumber,  cheap  provisions,  light 
taxes,  poor  laws,  and  tithes ;  climate,  savings  in 
freight,  profits,  commissions,  storage,  insurances, 
machinery,  inventive  genius  ;  our  home-consuming 
demand  or  market ;  all  these  and  many  more 
prove  to  us,  conclusively,  that  we  do  stand  on  the 
vantage  ground,  and  have  advantages  over  the 
whole  world,  at  least  as  far  as  our  home  demand 
goes. 

Other  circumstances  bear  upon  this  subject,  and 
add  still  more  to  our  advantages.  The  public  debt  of 
England  is  eight  hundred  million  pounds,  requiring 
an  annual  interest  of  fifty  millions ;  to  which  add 
eight  millions  poor-rates,  ten  millions  tithes,  and 
twenty  millions  for  an  excess  of  army  and  navy  pen- 
sion, and  civil  list  expenditures  over  and  above  what 
a  moderate  government  ought  to  expend ;  and  it 
makes  a  burthen  of  eighty-eight  million  taxes  annu- 
ally upon  England.  This  enormous  sum  may  be  said 
to  come  first  outof  the  profits  of  labor,  before  any  div- 
idend or  enjoyment  be  had  from  it.  The  manufactu- 
rers have  to  pay  their  proportion  of  that  huge  load, 
which  must  add  to  our  advantages  over  her.  We 
have  but  little  national  debt,  few  poor-rates,  no 


#t  NOTES    ON   POLITICAL    ECONOMY. 

tithes,  a  cheap  government,  and  no  excise  or  taxes 
that  fall  particularly  on  labor.  We  can  use  our  own 
raw  cotton  without  even  the  half-penny  duty  which 
it  pays  going  into  England,  that  enhances  the  price 
of  the  raw  material  that  much,  and  must  be  greatly 
felt  in  the  present  low  price  of  cotton. 

I  will  here  venture  a  prophecy,  that  if  England 
by  a  severe  war  places  another  hundred  million  of 
debt  upon  her  already  overloaded  shoulders,  she 
will  lose  all  the  markets  of  the  w^orld.  We  would 
be  foremost  in  the  process,  if  true  to  ourselves  ;  for 
she  would  be  weighed  down  too  low  to  compete 
with  the  active,  free,  and  untaxed  American,  borne 
up  by  all  the  other  advantages  that  we  have  enu- 
merated. England  dares  not  engage  in  another 
continental  war ;  she  knows  the  consequences. 

As  a  proof  and  an  earnest  that  w^e  can  compete 
with  England  and  all  other  countries  in  manufac- 
turing, if  properly  protected  and  started,  I  would 
cite  the  facts  and  prices  growing  out  of  the  present 
condition  of  our  operations  in  that  field.  Some 
articles  under  the  war  duties  did  get  a  proper  start, 
so  as  to  combine  skill  and  capital  both  in  their  ope- 
rations. I  will  instance  coarse  cotton  goods,  lin- 
seys,  satinets,  glass,  paper,  shoes  and  boots,  hats, 
carriages,  cabinet  and  household  furniture,  planta- 
tion cutlery,  leather,  and  a  hundred  small  things 
of  that  sort.  All  these  things  now  go  on,  to  the 
exclusion  of  the  foreign  articles  of  that  kind,  up  to 
our  consumption,  and  are  made  cheaper  and  of  a 
better  quality  than  we  ever  had  them  from  abroad. 


NOTES    ON    POLITICAL    ECONOMY.  65 

We  have  done  more  than  this  in  these  articles,  for 
we  are  actually  shipping  off  large  quantities  of 
them,  say  eight  million  dollars  worth  annually,  to 
all  the  world,  particularly  South  America,  West 
Indies,  Levant,  Africa,  Calcutta,  China,  and  even 
have  sent  some  articles  to  England  ;  such  as  cotton 
drillings,  clocks,  stamped  glass,  wooden  ware,  car- 
riages, and  so  forth,  which  have  sold  to  a  profit,  after 
encountering  her  high  duties.     Our  articles  are  pre-; 
ferred  to  the  English  in  the  other  markets  where  \ 
we  stand  on  an  equal  footing  with  her.    This  proves  j 
our  capacity  to  manufacture,  and  it  proves  also  how  / 
hard  it  is  to  induce  capitalists  to  take  hold,  and  in-^ 
spire  confidence,  whilst  our  policies  are  so  vacilla- 
ting ;  and  that  they  are  more  afraid  of  the  uncer- 
tain legislation  on  that  subject,  than  of  the  capacity 
of  our  people.     What  is  already  stated  and  proved 
ought  to  determine  our    legislators    to    establish 
manufacturing  by  a  proper  protection,  and  give  to  it 
stability,  so  as  to  inspire  confidence. 


CHAPTER    XIII 

PROTECTION  IS  NOT  A  TAX  ON  CONSUMPTION  LONG. 

We  are  told  that  "protection  operates  as  a 
tax  upon  the  consumer,  is  in  the  nature  of  a  bounty 
to  one  class,  and  a  corresponding  tax  on  the  other 

6 


66  NOTES    ON    POLITICAL    ECONOMY. 

classes  of  society,  and  that  did  it  not  so  operate  it 
would  be  a  mockery,  and  no  inducement  or  protec- 
tion at  all."  This  is  true  but  for  a  short  time  only. 
I  regard  all  tariff  protection  as  intended  to  cover 
the  loss  of  time  necessary  to  start  a  new  business, 
and  the  losses  that  often  occur  the  first  year  or  two, 
from  the  want  of  skill  and  experience.  By  insur- 
ing the  capitalist  that  he  would  be  in  the  end  more 
than  compensated  for  these  sort  of  losses,  he  is  in- 
duced to  invest  his  money  in  machinery  and  prepa- 
rations. 

So  many  rush  into  the  business,  however,  under 
the  inducement,  that  as  soon  as  a  start  be  made, 
and  skill  acquired,  competition  in  this  active  and 
enterprising  country  follows  so  rapidly,  that  the 
prices  of  the  articles  made  are  soon  brought  down 
as  low  as  the  imported.  It  is  sure  to  be  of  a  better 
quality  than  the  foreign,  because  the  manufacturer 
will  not  hazard  his  character  and  reputation  upon 
which  he  will  depend  for  life,  in  making  a  bad  arti- 
cle to  be  sold  and  consumed  at  home.  In  the  sup- 
plying of  remote  markets,  dishonesty  is  often  prac- 
tised in  putting  up  bad  or  faulty  goods.  The 
price  and  quality  of  the  goods,  after  competition 
shall  have  had  its  effects,  are  so  low  and  good  that 
the  difference  much  more  than  pays  back  the 
tax  paid  for  the  protection  the  first  few  years. 
This  is  now  verified  in  the  case  of  such  articles  ^s 
we  enumerated  in  the  last  chapter,  whose  differ- 
ence in  price  and  quality  are  both  vastly  in  favor 
of  the  home  production  of  them.      It  is  becoming 


NOTES    ON    POLITICAL    ECONOMY.  67 

true  of  many  others,  as  fast  as  skill  and  experience 
are  combined  under  an  active  competition  :  woollen 
and  iron  goods,  and  a  higher  class  of  cottons  will    , 
soon  be  in  the  same  situation,  and  ready  to  pay  us  ] 
back  the  costs  of  protection.     If  we  pay  five  or  ten 
per  cent,  more  for  two  years  than  we  had  been  in«;^ 
tlie  habit  of  paying  before  for  goods,  and  get  them 
two  per  cent,  cheaper  for  a  hundred  years  there-    | 
after  than  we  previously  did,  we  will  be  gainers  as  \ 
to  price,  gainers  in  the  quality,  gainers  in  the  stead-    I 
iness  and  certainty  of  the  supply,  and  gainers  in  the 
consequent  wealth  and  independence  of  the  coun-   ^ 
try.     Our  supply  then   will  be  exempt  from  the   * 
hazards  of  war,  the  risks  of  foreign  voyages,  and 
the  liability  to  impositions  so  unscrupulously  prac- 
tised upon  strangers.     Our  commerce  will  have  the 
carrying  of  it,  our  agriculturists  vastly  profit  by 
having  a  home  market,  and  our  capital  be  safely 
invested. 

I  would  go  so  far  on  the  principle  of  protection 
and  bounty  as  to  assert,  that  there  are  cases  that 
do  arise  in  most  countries,  where  a  government 
should  use  money  or  credit  in  loaning  the  means, 
or  giving  bounties  to  enterprising  citizens,  to  ena- 
ble them  to  start  some  branches  of  business,  such 
as  iron  and  the  woollens,  that  are  so  necessary  to 
the  independence  and  comfort  of  all  countries. 
When  it  is  pretty  clearly  ascertained  that  these 
branches  would  not  be  developed  by  individuals, 
government  funds  might  be  used  in  bounties,  in 
order  to  insure  their   production,  and  the  conse- 


68  NOTES    ON   POLITICAL    ECONOMY. 

quent  wealth,  comfort,  and  independence,  that 
would  be  realized  from  them.  For  instance,  if  it 
were  demonstrable  that  one  million  would  start 
some  lines  of  business  altogether  beyond  individual 
means,  and  that  this  million  would  in  a  few  years 
make  two  millions,  it  would  follow  that  it  would 
be  a  good  stroke  of  policy  to  do  it,  and  thus  de- 
velope  valuable  productions.  If  the  million  in  those 
circumstances  should  make  no  profit,  only  secure 
its  eventual  return,  still  it  would  be  good  policy  to 
thus  use  it. 

I  will  now  suppose  a  case  where  the  price  of 
the  protected  article  would  be  always  ten  per 
cent,  higher  than  the  foreign  one,  and  still  show 
that  it  would  be  sound  policy  to  grant  a  protection, 
and  the  country  would  be  benefited  in  paying  that 
much  more  continually  for  the  article.  This  seems 
at  the  first  blush  a  paradox ;  but  on  the  following 
hypothesis  is  proved.  Suppose  we  want  ten  mil- 
lions more  of  goods  than  we  make,  and  have  plenty 
of  idle  people,  raw  material  and  capital  to  produce 
them,  but  so  as  to  make  them  worth  eleven  millions, 
or  one  million  more  than  the  foreign ;  the  produ- 
cing of  them  saves  us  nine  millions,  the  whole  less 
the  advance,  nationally  speaking,  or  saves,  which 
would  be  the  same  thing,  nine  millions  annually. 
Our  gains  would  be  more  than  this  even,  in  the 
rounds,  for  we  enable  those  idle  persons  to  become 
consumers  and  useful,  and  agriculture  is  benefited 
by  the  home  market  to  that  extent,  as  well  as  a 
better   condition  of  things   insured.     We  do  not 


NOTES    ON   POLITICAL    ECONOMY.  69 

really  therefore  lose  the  one  million,  the  seeming 
difference,  much  less  the  nine,  because  the  increased 
ability  imparted,  the  more  active  interchanges,  the 
employment  of  capital,  the  independence  of  the 
nation,  the  removing  the  clog  to  this  extent  from 
other  occupations,  all  would  be  v^orth  infinitely 
more  than  this  million  three  times  told.  This  is, 
however,  an  extreme  case,  and  can't  occur  in  these 
United  States  under  our  active  competition,  yet  it 
proves  principles.  Should  the  fact  be  questioned 
that  we  do,  by  our  own  competition,  put  the  prices 
down  as  low  or  lower  than  the  foreign  articles  of 
the  same  sort,  I  would  verify  it  by  the  prices  cur- 
rent of  the  day  in  England  and  this  country,  on 
such  articles  as  are  fully  established  here,  particu- 
larly such  as  are  named  in  the  preceding  chapter. 
The  sales  we  are  every  day  making  of  those  goods 
abroad,  alongside  of  the  English,  and  the  prefer- 
ence given  to  them  by  the  consumers,  prove  it 
When  we  bring  the  case  home  to  our  own  country, 
the  thing  works  more  certainly  still,  because  we 
always  here  have  a  tariflf  of  twenty  or  thirty  per 
cent,  for  revenue,  which  without  any  regard  to  the 
principle  of  protection  is  all  clear  to  our  manufac- 
turer, and  insures  success  to  him  after  a  fair  start 
Why  should  any  general  law  giving  protection^ 
or  even  a  bounty,  be  regarded  as  partial,  and  taxing 
one,  even  temporarily,  for  the  benefit  of  another? 
Thp  law  is  open  to  all,  and  every  individual  in  the 
community  has  an  equal  right  to  enter  the  lists  and 
profit  by  it.     If  he  does  not  avail  himself  of  it,  there 


70  NOTES    ON   POLITICAL    ECONOMY. 

is  no  cause  for  complaint ;  it  is  a  proof  that  he 
waves  his  right  and  gives  way  to  others.  Our  po- 
liticians in  this  country  show  a  great  deal  of  dis- 
honesty and  unfairness  in  cases  like  this,  and  try  to 
pervert  and  strain  facts  to  make  the  ignorant  be- 
lieve they  are  oppressed,  that  they  may  make  poli- 
tical capital  out  of  it.  The  idea  of  monopoly  is 
widely  different  from  this,  made  of  sterner  stuff, 
and  intended  to  favor  an  individual,  or  company,  at 
the  expense  of  the  community. 

We  are  asked,  why  keep  on  the  old  tariff  if  the 
goods  become  as  cheap  as  the  foreign  ?  I  answer, 
that  the  tariff  becomes  a  dead  letter  as  to  fair  and 
honest  prices,  but  is  useful  as  a  preventive  to  the 
designing.  In  all  countries  there  are  refuse  goods, 
old  stocks,  unfashionable  patterns,  and  even  imper- 
fect goods.  These  have  to  be  sold,  and  it  is  ex- 
pected at  a  great  loss — but  the  owners  will  not 
sell  them  at  home  to  affect  injuriously  their  good 
market,  but  would  send  them  here,  were  there  no 
tariff,  to  be  sacrificed,  and  injure  our  operations. 
England,  after  selling  at  home,  as  we  have  said, 
one  hundred  and  eighty  millions  goods,  for  a  good 
profit,  sends  off  the  twenty  millions  she  has 
left  to  be  sacrificed  here.  Having  her  profit  al- 
ready, she  cares  not  for  the  loss,  rather  delights 
in  it,  from  a  conviction  that  she  has  injured  her 
rival,  and  possibly  prostrated  her;  for  this  ba- 
lance would  be  enough  to  ruin  us,  if  thrown 
annually  upon  our  market.  The  continuing  the 
duties    on,    prevents    this    and    keeps   the   mar- 


NOTES    ON   POLITICAL    ECONOMY.  71 

ket  steady.  A  country  with  as  much  capital  as 
England,  with  interest  worth  only  two  or  three  per 
cent.,  might  designedly  collect  a  few  millions  an- 
nually to  send  goods  here,  with  a  view  to  prostrate 
our  manufactories,  and  would  find  her  account  in 
it.  Say  not  that  this  will  never  occur,  when  we 
see  now  a  society  existing  in  England,  to  get  up 
tariff  tracts  against  protection,  and  flood  this  coun- 
try with  them,  expressly  to  change  our  policy,  or 
prevent  our  success  as  a  rival.  England  fears  not 
our  sending  goods  there,  for  she  can  prevent  that 
by  a  tariff;  nor  would  the  losing  of  our  market 
ruin  her,  because  she  has  other  numerous  markets ; 
but  she  foresees  that  under  protection  we  would 
manufacture  for  the  world,  and  take  her  markets 
from  her. 


CHAPTER    XIV. 

BUYING  THINGS   OR    SPENDING  MONEY  HOME  OH  ABROAD 
IS  WIDELY  DIFFERENT. 

So  that  a  thing  is  made  and  supplied  at  home, 
it  matters  but  little  whether  it  costs  more  or  less. 
This  is  broad  ground  and  needs  some  illustration, 
because  if  true  it  does  away  all  the  objections  that 
can  be  offered  to  a  protecting  tariff.  It  makes  all 
the  difference  to  the  country,  taking  in  its  rounds 
and  interchanges  of  labor,  and  its  capital,  whether 


72  NOTES    ON    POLITICAL    ECONOMY. 

a  dollar  is  laid  out  at  home  or  abroad,  in  buying  an 
article.     When  it  goes  to  a  foreign  country  to  buy 
the  thing,  it  is  gone  forever,  and  becomes  the  capi- 
tal or  the  dollar  of  that  country,  after  it  makes  one 
operation  only.     Whereas  if  you  lay  out  that  dol- 
lar at  home,  in  the  neighborhood,  or  next  village,  or 
next  state,  or  district,  for  an  article,  it  remains  in 
the  country,  and  is  still  a  part  of  the  capital  of  the 
country.     It  does  infinitely  more  than  that,  because 
it  circulates  and  repeats  its  operation  of  buying  an 
article  perhaps  one  hundred  times,  possibly  a  thou- 
sand times,  and  in  its  rounds  serves  the  purposes  of 
a  hundred  or  a  thousand  dollars,  as  the  case  may 
be.     In   the   grand   rounds   of   its   circulation,    it 
touches  as   many  springs  of  industry   as  it  does 
hands,  and  is  all  the  time  doing  good.     When  it 
shall  have  done  all  this,  or  while  it  is  doing  all  this, 
for  the  thing  never  ends,  it  is  still  a  dollar,  and 
counted  properly  among  the  dollars  or  the  capital 
of  the  country.     Figures  can't  calculate  the  differ- 
ence, therefore,  in  expending  a  dollar  at  home  or 
abroad ;  even  the  geometrical  ratio  can't  accumu- 
late fast  enough  to  realize  this  difference.     It  out- 
strips every  thing  but  the  human  imagination  in  its 
progress.     This  vast  difference  has  never  occurred 
to  our  w^isest  politicians,  much  less  our  demagogues. 
Now  if  the  article  should  cost  ten  per  cent,  more 
than  the  foreign,  it  is  ten  times  made  up  in  this 
grand  rounds  we  have  alluded  to,  by   the  rapid 
repetition  of  the  thing.     It  is  again  made  up  in 
the  way  tliat  prices  tally  or  adapt  themselves  to 


NOTES   ON   POLITICAL    ECONOMY.  73 

one  another.     If  the  seller  of  the  article  gets  a  lit- 
tle more,  he  in  his  turn  pays  a  little  more  to  the 
laborers,  and  they  a  little  more  to  the  farmers,  they 
a  little  more  to  the  hands,  and  so  on  all  around  the 
circle,  until  a  perfect  equilibrium  is  not  only  restored, 
but  kept  up  between  all,  and  all  prices  quadrate  into 
a  perfect  system,  that  in  the  rounds  can't  make  the 
least  difference  as  to  the  cost  or  difference  of  price. 
I  would  go  so  far  as  to  allege  and  boldly  say,  that 
if  a  country  bought  all  at  home,  and  had  nothing 
to  do  with  foreign  markets,  it  would  make  no  dif- 
ference to  it  in  the  aggregate,  or  nationally  speak- 
ing, what  an  article   costs  in  reason.     It  would 
neither  add  to  or  impair  her  wealth  or  resources. 
The  above  point  of  view  is  worth  much  to  politi- 
cal economy,  and,  if  understood,  would  do  away 
the  slang  and  every  day  arguments  of  "  Tax  not 
one  portion  of  the  people  for  the  benefit   of  the 
others."     It  does  not  operate  so  at  all,  even  when 
a  difTerence  does  seem  apparent.  On  the  other  prin- 
ciple too  the  argument  fails,  as  we  have  seen  in  a 
former  chapter ;  that  is  to  say  in  the  operation  of 
skill  and  competition  upon  prices,  when  they  shall 
have  had  time  to  act.     On  both  the  above  princi- 
ples then  there  can  be  no  danger,  no  loss  nor  tax 
in  a  protecting  tariff.    The  country  is  sure  to  retain 
its  capital,  and  have  the  price  reasonable  too,  or 
so  graduated  as  not  to  be  felt. 

A  part  of  the  same  argument  is  the  slang  ex- 
pression of  "  buying  where  we  can  the  cheapest." 


74  NOTES    ON    POLITICAL    ECONOMY. 

This  argument  never  looks  beyond  its  nose,  never 
once  calculates  the  general  effect  of  things,  or  takes 
in  the  resources,  labor,  independence,  or  capital  of 
a  country.  It  overlooks  all  those  sacred  duties 
that  vrould  go  to  give  employment  to  all  laborers, 
develope  and  bring  into  action  new  resources  with- 
in reach,  and  save  to  a  nation  its  capital  or  income, 
instead  of  wasting  it  in  expenditures  abroad.  It 
is  time  the  real  worth  of  each  and  every  argument 
was  known  and  inquired  into,  so  as  to  not  take  it 
as  the  pass-word  of  party,  or  of  some  district  of 
country  that  did  not  understand  its  own  interests, 
much  less  those  of  the  whole  nation.  Our  politi- 
cians do  not  realize  the  great  and  mighty  difference 
in  the  result,  where  all  work  or  only  a  part  of  the 
population.  In  this  case,  mathematics  can  scarcely 
keep  up  with  results  in  its  ordinary  calculations. 
Suppose,  for  instance,  that  one-half  of  the  laborers 
of  a  country  meet  the  home  supply  in  manufac- 
tures, agriculture,  or  any  other  department,  and  the 
other  half  idle ;  and  suppose,  too,  a  market  for 
what  all  could  produce.  The  country  is  on  a  bal- 
ance and  not  advancing,  this  half  merely  meeting 
its  own  home  supply,  amounting  say  to  one  hun- 
dred millions  worth.  Now  if  the  other  half  goes 
to  work,  or  is  induced  to  labor  and  make  another 
hundred  million,  which  finds  a  market  abroad, 
would  not  this  be  a  great,  clear,  and  ample  income, 
and  enable  that  nation  to  save  a  hundred  millions, 
and  add  it  to  its  capital  1    It  is  clear  it  would ; 


NOTES    ON   POLITICAL    ECONOMY.  75 

and  this  sort  of  summing  up  shows  the  difference, 
according  to  a  scale,  where  all  or  only  a  part  work 
or  produce. 

No  nation,  no  politicians  or  political  economists 
ought  to  be  content,  as  long  as  they  see  one  idle 
person,  whose  circumstances  require  him  to  labor. 
All  possible  stimuli  and  inducements  ought  to  be 
applied  to  rouse  his  ambition,  and  show  him  his 
interests  and  worth  in  the  scale  of  productiveness. 
Two  sorts  of  arguments  take  up  mankind  in  rela- 
tion to  the  the  tariff  question.  The  one,  this  sort 
of  slang  demagogical  pass-word  of  party,  calcula- 
ted to  catch  the  ear  of  the  ignorant,  and  implant 
prejudices  and  impulses  in  their  minds ;  and  the  ar- 
guments that  examine  the  real  and  true  worth  and 
bearing,  in  every  aspect  and  shape  in  which  the  thing 
presents  itself.  The  true  statesman  does  this,  but 
is  too  often  met  and  defeated  by  j:he  other  class, 
backed  by  the  ignorant,  and  too  often,  without  their 
knowing  it,  by  foreign  interest.  England  has  put 
these  popular  arguments  into  the  mouths  of  our 
demagogues,  and  smiles  at  the  manner  in  which 
the  gudgeons  take  and  serve  her  interest.  Gener- 
ally speaking,  our  tariff  laws  could  not  have  served 
our  rivals  better,  if  they  had  penned  them  them- 
selves, and  presided  in  our  councils  and  legislative 
assemblies.  The  English  are  too  wise  to  attempt 
any  thing  through  the  Federal  party,  for  there  they 
would  certainly  have  failed  and  alarmed  the  interests 
of  this  country.  They  chose  rather  to  work  through 
that  party  that  hates  England ;  and  seeing  that  they 


T6  NOTES    ON   POLITICAL    ECONOMY. 

caught  at  these  slang  arguments,  and  made  them 
popular  by  repeating  them  to  the  people,  they  rung 
them  in  all  their  changes,  until  they  have  almost 
ruined  this  country  and  its  best  interests.  Even 
results  and  practical  proofs  have  to  give  vray  to 
these  popular  notions,  that  become  so  obstinate  and 
deep-rooted,  that  the  very  facts  are  either  not  ad- 
mitted, or  strained  into  some  other  channel,  and 
ascribed  to  causes  that  are  really  foreign  to  them, 
and  had  no  agency  in  bringing  them  about. 

One  portion  of  the  world  is  continually  sapping 
and  impoverishing  another,  on  the  principle  at  the 
head  of  this  chapter.  England,  Germany,  and 
America,  expend  all  of  two  hundred  million  dollars 
a  year,  by  the  best  estimates,  in  France,  particularly 
Paris;  which  sum  is  gone  from  those  countries  for 
ever,  and  constitutes  the  best  resource  of  France. 
Other  nations  expend  in  Italy  not  less  than  one 
hundred  million  dollars  a  year,  which  is  the  princi- 
pal income  of  that  country.  Hindoostan  and  Ire- 
land are  sapped  dry  by  England,  and  their  very 
heart's  blood  flows  into  London,  and  swells  that 
overgrown  metropolis.  This  is  not  only  true  of 
distinct  countries,  but  parts  of  the  same  country. 
As  soon  as  any  point  offers  all  possible  inducements 
to  pleasure  and  comfort,  it  becomes  absorbing  in 
its  character,  and  drinks  up  all  around  it.  London, 
Paris,  Vienna,  St.  Petersburgh,  Berlin,  Rome,  New- 
York,  and  many  other  points,  draw  all  the  resources 
for  hundreds  of  miles  around  into  their  vortices,  and 
appropriate  them.     If  this  be  true  of  the  ordinary 


NOTES    ON    POLITICAL    ECONOMY.  77 

expenditures  regarding  pleasures,  enjoyments,  and 
show,  it  is  a  hundred  times  more  true  of  the  great 
purchases  and  supply  of  manufactures  and  the  arts. 
If  the  population  be  near  enough  to  these  absorb- 
ing points  to  have  a  daily  market  offered  to  them 
for  provision  supplies,  they  reciprocate  more  imme- 
diately with  them,  and  get  back  as  much  as  they 
expend  ;  but  when  a  person  lives  more  remote,  and 
gathers  up  his  money  by  rents  or  tradings  with 
his  neighbors,  to  expend  away  from  them,  it  is 
felt ;  and  the  process  is  impoverishing,  because  it 
has  no  remead  or  reciprocation  in  it.  We  almost 
dread  to  see  a  large  fortune  spring  up  in  this  coun- 
try, for  it  is  sure  to  go  off  to  France  or  England  to 
be  expended.  If  the  person  who  made  it  by  long 
savings  in  business  does  not  go,  his  thoughtless 
heirs  will.  We  are  at  work  for  Europe  in  more 
w^ays  than  one  ;  we  not  only  pay  her  our  last  cent 
for  her  manufactures,  but  lose  our  capital  in  this 
way  ;  and  will  never  scarcely  accumulate  enough 
for  any  great  national  purpose. 

The  prices  of  things,  not  only  in  manufactures 
but  agriculture,  are  not  governed,  as  old  writers 
say,  and  regulated  by  the  cost  of  production,  or  the 
quantity  of  labor  necessary  to  make  them  or  pro- 
duce them,  but  by  the  demand  for  them.  All  the 
vibrations  in  the  markets,  the  ups  and  downs  of 
prices,  are  pretty  much  the  result  of  a  greater  or 
less  demand  for  the  productions  in  question  among 
the  consumers.  An  overdone  or  clogged  market  is 
always  a  bad  one  ;  and  prices  fall  in  consequence 


78  NOTES    ON    POLITICAL    EJONOMY. 

thereof.  It  is  not  the  product  of  an  acre,  for  in- 
stance, nor  the  cost  of  preparing  it  for  cultivation, 
that  constitutes  the  price  of  it,  but  the  quantity  of 
land  in  the  market,  and  the  demand  for  it.  Land 
in  England  is  worth  five  hundred  dollars  an  acre, 
and  in  this  country  only  one  and  a  quarter  to  ten 
dollars.  Corn  or  wheat,  rather^  is  w^orth  in  Eng- 
land two  to  three  dollars  a  bushel — here  only  ninety 
cents.  The  same  thing  is  true  of  all  things ;  they 
rise  or  fall,  or  remain  stationary,  accordingly  as  the 
market  or  the  demand  w^arrants.  The  only  gov- 
erning quality  as  to  wages  is,  that  the  laborer  must 
have  enough  to  subsist  upon,  or  his  operation  ceases. 
Within  that  limit,  however,  he  will  often  work  on, 
without  any  other  result,  for  his  lifetime.  His  skill 
and  habits  are  all  shaped  to  that  occupation,  or  the 
production  of  that  article ;  and  he  holds  on,  sinks  or 
rises  with  the  price  of  it,  rather  than  change  his  hab- 
its and  pursuit.  No  part  of  labor,  then,  can  be  said 
to  govern  or  regulate  the  price  of  production,  but 
that  part  relating  to  subsistence — all  the  remaining 
parts  give  way  to  the  market  or  demand,  and  are 
dependent  on  circumstances.  Labor  may  be  the 
foundation  of  all  productive  wealth  ;  and  yet  not 
be  able  to  govern  the  prices  of  articles.  It,  like  the 
unconscious  parent,  begets  the  offspring,  but  cannot 
foresee  its  value  and  fix  its  sterling  worth.  Labor 
is  destined  to  stand  on  the  lowest  level  of  values, 
and  struggle  for  bare  support,  because  by  the  aid 
of  machinery  it  can  overdo  all  productions,  glut  all 
markets,  and  bring  down  the  prices  to  this  level. 


NOTES    ON    POLITICAL    ECONOMY.  79 

It  is  a  gloomy  idea,  and  presents  a  sad  picture,  that 
in  the  run  of  things  man  is  destined  to  sell  himself 
for  bread  and  clothes,  and  perhaps  brown  bread  and 
rags  at  that.  All  that  political  economy  can  do  is 
to  keep  up  the  platform  of  labor  to  its  greatest  pro- 
ductive availability,  by  giving  the  best  market 
within  its  reach,  and  the  best  employment  to  it ; 
and  if  destined  to  sink,  contrive  that  all  shall  keep 
together,  and  carry  as  much  comfort  with  them  as 
possible. 

The  strongest  case  in  illustration  of  the  above 
principle,  that  nations  who  buy  their  supplies  from 
abroad  never  accumulate  capital,  and  all  the  time 
remain  poor,  is  found  in  the  history  of  these  United 
States.  We  have  had  a  valuable  agricultural  pro- 
duct all  the  time,  including  our  staples,  and  have 
annually  expended  it  abroad,  in  buying  such  things 
as  we  should  have  made  at  home,  and  have  saved 
but  little  capital ;  because  it  took  our  whole  ability 
to  supply  ourselves  with  necessaries  and  luxuries 
from  abroad,  which  are  consumed,  leaving  not  a 
wreck  behind.  Our  effort  has  been  to  make  the 
two  ends  of  the  year  meet,  and  prevent  balances 
against  us.  Have  we  done  this  ?  The  worst  is  to 
come  ;  and  when  our  present  circumstances  speak, 
will  show  a  sad  case  of  debt  and  thraldom,  w^orse 
than  the  spendthrift,  who,  after  using  up  his  income 
finds  himself  in  the  hands  of  the  Jews  and  usurers. 
England,  after  finding  that  we  had  not  only  spent 
our  income  with  her,  and  anticipated  it  by  one  or 
two  years,  and  that  we  had  gotten  into  such  an  ex- 


80  NOTES    ON    POLITICAL    ECONOMY. 

travagant  way  as  to  want  more — ten  times  more,  if 
we  could  get  it,  met  this  want  up  to  all  the  availa- 
ble credit  that  we  had  after  our  means  were  ex- 
hausted. The  evil  did  not  stop  there.  She  agreed 
to  take,  and  required  us  to  transfer,  all  the  stocks 
that  were  available,  and  promised  some  dividend  to 
her,  including  our  national,  state,  corporation,  and 
the  one  thousand  banks  that  we  had  started.  When 
all  this  was  done,  and  the  dividends  gone  from  us 
for  ever,  as  well  as  the  principal,  and  we  still  want- 
ed more  !  cried  aloud  for  more!  must  have  more  I 
the  plan  was  then  hit  on  to  call  up  the  states,  these 
sovereignties  that  stood  behind  the  crowd,  and 
urge  them  on  to  useless  and  empty  consumption, 
and  get  them  to  borrow  millions  under  the  sem* 
blance  that  they  could  expend  them  in  developing 
the  country.  These  sovereignties,  urged  by  dema- 
gogues who  knew  that  they  would  have  the  hand- 
ling of  the  money,  came  forward  and  put  their  sign 
manual  to  loans  amounting  to  two  hundred  million 
dollars,  and  issued  with  much  parade  bonds  and 
stock  to  that  amount,  bearing  on  an  average  six  per 
cent,  payable  semi-annually,  or  quarterly  even,  in 
England,  if  required.  This  money  reached  this 
country  principally  in  the  shape  of  trashy  goods,  at 
two  prices,  and  such  things  as  we  either  did  not 
need  or  ought  to  have  made  at  home,  but  which  we 
consumed  and  sunk  for  ever.  That  two  hundred 
million  gave  us  that  much  more  ability  to  buy  and 
consume  English  goods,  which  she  very  well  knew, 
and  every  cent  of  it  returned  rapidly  to  Europe,  prin- 


NOTES    ON   POLITICAL    ECONOMY.  81 

cipally  to  England,  sure  enough,  after  more  goods. 
So  rapidly  did  it  hurry  back,  that  it  made  no  im- 
provements in  the  country  in  the  shape  of  cities, 
farms,  schools,  and  substantial  comforts ;  merely  half 
dug  out  vSome  canals  and  ways  for  roads,  and  built 
some  board  shantees  in  which  to  sell  liquors  and 
English  goods  to  the  laborers,  who  pretended  to  be 
making  great  works. 

What  are  the  facts  now  7    We  wake  up  to  debts 
enough  to  weigh  down  our  industry  for  the  next 
fifty  years.    The  states  owe  in.  their  sovereign  ca- 
pacity two  hundred  millions ;  half  of  it  not  even 
paying  interest  from  sheer  Inability,  ten  millions  of 
it  repudiated,  and  disgracing  in  both  cases  our  free 
institutions  and  nation.     Of  bank  and  corporation 
and  national  stocks,  besides,  two  hundred  millions 
held  in  England,  and  the  individual  indebtedness, 
amounting  abroad  to  fifty  millions,  making  in  all 
the  enormous  sum  of  four  hundred  and  fifty  million 
dollars  owed  abroad,  and  for  what  ?  such  things  as 
we  might  and  ought  to  have  made  at  home.     Half 
of  the  works  aimed  at  are  not  finished ;  such  as  are 
completed  subserve  Europe  perhaps  nearly  as  much 
as  ourselves,  by  letting  her  into  the  very  bosom  of 
our  country,  to  poison  and  corrupt  still  more  our 
very  principle  of  action.     We  are  now  paying  to 
England  in  the  shape  of  interest  and  dividends  not 
less  than  fifteen  million  dollars  annually,  which 
will  keep  us  poor  for  an  age  to  come.     The  ex- 
pending, or  rather  paying  for  it,  is  now  not  even  an 
outlay ;    fifteen  million  dollars   abroad  hurts  us 

7 


82  NOTES    ON    POLITICAL    ECONOMY. 

worse,  prostrates  us  more,  than  paying  to  one  an- 
other one  hundred  millions  would;  for  then  the 
money  is  still  in  the  country,  and  a  part  of  our  cap- 
ital ;  in  the  other  case  it  is  gone  for  ever. 

There  is  no  calculating  such  differences ;  they 
appal  when  run  out  into  their  detail.  I  would  lay  it 
down,  then,  as  a  plain  principle,  and  a  case  proved, 
that  a  nation  that  supplies  itself  with  articles  of  ne- 
cessity or  even  luxury  from  abroad,  will  never  accu- 
mulate capital  or  get  rich,  can  only  hope  to  meet 
the  balance  annually.  I  will  further  assert,  and 
appeal  to  experience  in  support  of  the  fact,  that 
they  do  not  meet  their  balances,  but  are  invariably 
in  debt  abroad.  I  will  also  assert,  and  prove  it, 
too,  that  all  increase  of  capital,  all  issue  of  stocks, 
or  loans  made  by  a  nation  thus  circumstanced,  is 
death  to  her ;  for  all  this,  too,  travels  abroad  for 
goods.  I  will  finally  assert,  that  these  operations 
indefinitely  postpone  the  time  when  such  nation  will 
supply  itself,  and  give  to  it  so  much  discredit  and 
such  innumerable  bad  habits  and  factitious  wants, 
that  she  can  scarcely  ever  be  available  for  practical 
and  economical  purposes,  and  stands  mortgaged 
and  bound  for  ages  to  her  successful  and  laughing 
masters  and  rivals. 


NOTES    ON    POLITICAL    ECONOMY.  83 


CHAPTER    XV. 

HOME  MARKET — ITS  EXTENT. 

Let  us  estimate  the  home  market,  and  its  extent. 
I  would  first  lay  it  down  as  a  sort  of  axiom,  or  at 
least  a  very  sound  principle,  that  all  nations  ought 
to  make  their  own  supply  ;  not  only  of  provisions 
but  manufactured  articles.  The  home  market 
ought  to  be  secured  in  an  absolute  and  certain  way 
to  their  own  citizens.  In  regard  to  provisions  this 
country  has  all  the  time  supplied  itself.  All  the 
Indian  corn ;  all  the  fruit  and  horticulture  ;  and 
fowls,  and  butter,  and  other  small  cultures,  such  as 
potatoes,  oats,  barley,  rye,  buckwheat,  wool,  are 
not  only  cultivated  for  the  home  market,  but  all 
consumed  by  it.  Three-fourths  of  our  pork  and 
lard  ;  nine-tenths  of  our  beef;  three-fourths  of  our 
fish ;  four-fifths  of  our  flour,  say  four  million  bar- 
rels out  of  five,  and  four-fifths  of  our  lumber  are 
consumed  and  wanted  at  home ;  not  counting  in  this 
consumption  the  people  who  grow  and  produce  these 
things.  So  of  provisions,  of  fish,  of  lumber,  we  make 
all,  import  none,  send  abroad  a  good  deal,  and  have 
therefore  the  home  market  complete.  We  may 
say  the  same  thing  of  live  stock,  ships  and  com- 


84  NOTES    ON    POLITICAL    ECONOMY. 

merce,  and  of  the  great  staples,  such  as  tobacco, 
cotton,  hemp,  flax,  and  others  ;  some  of  which,  after 
supplying  the  home  market,  leave  most  of  their 
bulk  for  export,  and  are  a  vast  source  of  wealth  to 
the  nation. 

It  remains  to  secure  the  home  market  for  the 
manufactures  ;  a  very  important  department  of  in- 
dustry, and  one  that  needs  it  more  as  an  encour- 
agement than  all  the  others.  All  people  must 
supply  the  bulk  of  what  they  produce  as  a  thing  of 
necessity ;  for  I  lay  it  down  as  a  fixed  and  certain 
rule,  that  no  people  or  nation  ever  did  or  can  buy 
all  they  consume  of  manufactured  articles.  They 
have  not  the  ability  to  do  it ;  for  their  exports,  which 
must  come  from  agriculture,  or  fisheries,  or  forests, 
or  mines,  constitute  the  ability.  No  nation  sells 
enough,  therefore,  or  could  sell  enough  to  buy  all 
the  fabrics  she  wants,  supposing  she  made  none. 
We  know  what  our  export  or  ability  is  ;  we  know 
what  the  ability  is  of  each  nation  of  Europe,  and 
can  calculate  it  very  easily.  It  is  a  curious  fact  in 
political  economy,  and  makes  a  very  curious  prob- 
lem, which  should  point  to  and  direct  politicians 
in  all  their  tariffs. 

By  the  census  and  other  documents,  this  nation 
consumes  twelve  hundred  millions  of  fabrics  or  man- 
ufactured articles,  and  imports  only  sixty  millions  ; 
as  custom-house  data  prove.  Our  ability  to  im- 
port is  only  ninety  millions,  and  forty  of  that  import- 
ation consists  of  sugar,  coffee,  tea,  wines,  and  other 
supplies,  that  hardly  rank  as  manufactures,  and  are 


NOTES    ON    POLITICAL    ECONOMY.  85. 

not  counted  as  such  in  this  estimate.  The  above 
assertion  sounds  strange,  and  requires  some  proofs 
and  explanation.  That  we  import  but  sixty  mil- 
lions of  fabrics  is  proved  clearly  enough  ;  that  our 
ability  to  import  and  consume  is  a  fact  of  public 
authority ;  that  we  consume  twelve  hundred  mil- 
lions a  year,  I  will  prove  by  giving  a  few  items  that 
serve  as  data,  in  aid  of  the  census,  which  is  never 
very  correct  in  these  side  estimates.  We  are  now 
eighteen  millions  of  population.  Take  the  first 
great  class  of  supplies,  say  textures  ;  counting  cot- 
ton, woollen,  silk,  hemp,  flax,  and  including  not  only 
clothing,  but  bedding,  curtains,  and  carpets ;  and 
putting  the  consumption  on  the  average  at  twenty- 
five  dollars  a  head,  it  amounts  to  four  hundred  and 
forty  millions  a  year — 

$440,000,000 

Hats  at  $5 ;  shoes  and  boots  at  $10  a  head,        .        .  270,000,000 

Saddles,  harness,  bridles,  whips,  and  thongs,  $5,  .        .  90,000,000 

Cabinet  furniture,  including  household,  $10,      .        .  180,000,000 

Wagons,  carts,  wheels,  carriages,  barrows,  $10,            .  180,000,000 

Tools  for  mechanics,  mill-irons,  plantation  cutlery,  $10,  180,000,000 

Machinery,  steam  engines,  and  all  relating  thereto,  $5,  90,000,000 

Iron,  nails,  castings,  stoves,  $10,          ....  180,000,000 

Crockery,  kitchen  tools,  knives,  forks,  spoons,  &c.,  $10,  180,000,000 

Books,  journals,  newspapers,  advertisements,  $5,      .  90,000,000 

Medicines,  chemicals,  dyestuffs,  salts,   $10,    .        .        .  180,000,000 

Glass,  paper,  leather,  soap,  candles,  $10,    .        .        .  180,000,000 

AU  other  things,  $5, 90,000,000 


$2320,000,000 


Now  suppose  the  above  grand  total  be  somewhat 
overrated,  it  will  certainly  leave  at  least  twelve 
hundred  millions  for  our  consumption  annually.    If 


86  NOTES    ON    POLITICAL    ECONOMY. 

we  had  to  buy  this  from  abroad,  instead  of  barter- 
ing for  it  in  a  manner  at  home,  how  would  we  pay 
for  it  7  We  know  ninety  millions  at  most  is  our 
ability,  and  after  that  is  exhausted,  we  would  have 
to  go  naked  or  suffer,  if  we  did  not  make  the  things 
ourselves.  We  are  so  familiar  with  the  daily  house- 
hold manufactures  going  on  every  where,  and  the 
daily  exchangings  based  upon  them,  that  they  do, 
not  excite  any  interest,  and  we  cease  to  appreciate 
them.  They  are  not  the  less  real  and  invaluable 
for  that  reason.  England,  by  the  estimate  of  her 
writers,  consumes  even  more  to  the  head  than  we 
do ;  say,  however,  that  she  consumes  twelve  hun- 
dred million  dollars  worth  annually,  where  could 
she  find  the  ability  to  buy  all  this,  since  her  exports, 
leaving  out  her  manufactures,  amount  to  nothing, 
scarcely  worth  estimating  7  She  is  a  striking  ex- 
ample, or  an  extreme  case,  and  would  literally  go 
naked  and  starve,  did  she  not  make  all  at  home. 

The  above  estimates  and  reasonings  show  the 
great  importance  of  the  home  market.  We  may 
add  here,  that  we  are  now  spinning  up  near  four  hun- 
dred thousand  bales  of  cotton,  one-fifth  of  the  whole 
production,  and  the  wool  of  forty  million  sheep. 
We  use  up  all  the  skins  and  hides  we  strip ;  all  the 
sugar  we  make,  say  one  hundred  thousand  hogs- 
heads weighing  one  thousand  pounds  each  ;  nearly 
three  million  tons  of  coal,  counting  bituminous  and 
anthracite;  five  million  bushels  of  salt;  fifty  thou- 
sand tons  of  iron;  all  these  of  our  own  making, 
and  then  import  vast  quantities  of  these  things  be- 


NOTES    ON    POLITICAL    ECONOMY.  87 

sides.  We  sell  to  other  than  the  producers  at  home, 
four  million  barrels  of  flour,  and,  as  we  said,  other 
things  in  proportion.  All  these  goods  that  we  make 
ourselves  are  not  only  cheaper,  but  of  a  better 
quality  than  the  imported,  and  better  serve  the 
population.  There  is  also  steadiness  in  a  home 
market,  more  especially  when  we  have  the  raw 
material  too.  It  cannot  be  affected  by  war,  nor 
blockade,  nor  such  like  obstructions.  Fairness 
takes  the  place  of  knavery,  confidence  of  suspicion, 
and  the  nation  feels  comfortable,  rich,  and  independ- 
ent. But  little  money  will  be  wanted  to  conduct 
such  a  home  interchange.  No  foreign  exchange  in 
the  money  market  is  necessary  in  connection  with 
it ;  no  drains  upon  our  banks,  because  there  being 
no  pressure,  they  do  not  call  in  or  curtail.  Every 
moral  principle  is  cherished,  and  every  interest  sup- 
ported without  violating  any  faith  or  contracts,  and 
all  is  mutual  and  confidential.  It  is  bad  enough  to 
depend  on  foreign  countries  for  luxuries,  or  such 
things  as  our  country  cannot  produce ;  but  wo  to 
that  nation  that  buys  its  necessaries  abroad  !  She 
can  be  affected  in  her  comforts,  and  even  in  her 
very  independence,  and  is  virtually  tributary. 
Every  branch  of  business  is  subserved  by  having 
a  home  market  for  our  manufactures  and  raw  ma- 
terials, as  well  as  provisions. 

I  am  told  here,  that  since  we  come  so  near  sup- 
plying ourselves  even  in  manufactures,  it  is  hardly 
worth  any  very  special  laws  about  it ;  that  the 
fifty  or  sixty  millions  only  out  of  twelve  hundred 


88  NOTES    ON    POLITICAL    ECONOMY. 

millions  that  remain  to  be  supplied,  will  take  care 
of  themselves,  and  in  a  few  years  more  cover  the 
whole  ground.  I  reply,  that  some  of  the  things  re- 
maining unfurnished  at  home  are  articles  of  neces- 
sity, and  important  to  our  very  independence;  such 
as  iron,  steel,  salt,  sugar,  crockery,  and  china,  and 
the  finer  cutlery ;  for  the  want  of  all  which  we 
might  suffer  on  an  emergency,  and  all  of  which 
could  be  made  at  home.  We  do  not  furnish  all  the 
flannels,  blankets,  carpeting,  and  cloths  that  we 
want.  A  little  protection  would  bring  in  silks, 
fine  linens,  all  the  fine  prints,  balzarines,  bera- 
ges,  merinoes,  cashmeres,  double  mulled  muslins, 
and  all  other  things  that  w^e  now  depend  on 
foreign  countries  for.  To  save  sixty  million  dollars 
a  year,  which  is  tantamount  to  making  it,  would 
enrich  this  nation  very  fast,  and  leave  us  a  com- 
pletely comfortable  people. 

The  portion  of  these  things  that  appertain  to 
luxuries,  are  almost  as  important  to  a  refined  and 
civilized  people,  in  these  times  of  taste  and  ele- 
gance, as  the  necessaries.  It  sets  off  a  people,  and 
gratifies  them,  when  they  feel  that  they  can  pro- 
duce such  fancy  and  splendid  things,  very  much. 
All  people  must  look  at  home  first,  (even  charity 
begins  there,)  and  stop  not  short  of  securing  the 
home  market  in  its  fullest  extent  to  themselves, 
and  stimulating  every  branch  of  business  up  to  that 
point.  The  home  market  is  like  an  inherited  patri- 
mony ;  we  may  claim  it  as  belonging  to  us,  as  of 
right  ours.     What  foreign  nation  is  there  that  has 


NOTES   ON    POLITICAL    ECONOMY.  89 

claims  on  us  for  this  precious  boon,  the  home  mar- 
ket ?  As  well  might  some  rake  lay  claim  to  the 
virginity  of  some  dear  ward,  and  expect  us  to  aid 
in  the  prostitution,  as  to  count  on  enjoying  this  in- 
nate and  important  privilege  of  supplying  our  home 
consumption. 


CHAPTER    XVI. 

OBJECTIONS   ANSWERED   TO  A  PROTECTING   TARIFF. 

Objection  1st — No  Revenue.  We  are  asked  what 
we  will  do  for  a  revenue  if  we  make  all  our  sup- 
plies at  home?  They  say  there  will  be  no  im- 
posts if  we  import  nothing.  Our  government 
can  collect  imposts  enough  from  articles  that 
can't  be  made  or  grown  in  this  country ;  say 
on  tea,  coffee,  tropical  productions,  cocoa,  cho- 
colate, preserved  fruits,  West  India  staples,  and 
such  things,  for  its  moderate  wants.  Its  public 
lands  would  come  in  aid  ;  and  if  all  did  not  do,  tax 
on  the  ad  valorem  principle,  all  values,  and  licen- 
ses. These  taxes  would  be  so  light  as  not  to  op- 
press or  affect  the  country.  It  would  be  years  too 
before  all  these  supplies  were  made,  and  the  w^hole 
ground  covered ;  and  in  the  mean  time  the  high 
protecting  duties  would  yield  revenue  enough,  with 
the  aid  of  the  public  lands,  and  the  articles  that  we 


90  NOTES   ON    POLITICAL    ECONOMY. 

could  not  produce.  Again,  the  increased  wealth 
arising  from  all  this  saving  and  producing,  which 
would  flow  in  as  specie  when  we  fully  meet  our 
home  supply,  would  well  bear  taxation,  and  could 
afford  to  keep  up  the  revenue  of  so  just  and  pater- 
nal a  government. 

Oh]ection2d — Have  wild  or  hack  Lands,  We 
are  told  that  we  have  fertile  back  lands  in  abun- 
dance, and  our  surplus  population  can  occupy 
them,  and  be  comfortable  and  independent  if 
not  rich.  This  is  that  fixed  hog  and  hominy 
state,  or  rather  the  log  cabin  state,  which  means, 
raise  meat  and  bread  and  eat  them,  and  wear 
homespun.  In  this  age  of  improvement,  why  stag- 
nate and  barbarize  the  human  family,  by  casting 
them  in  the  woods  remote  from  all  comfort  and 
civilization  %  Overdone  as  agriculture  is,  they  could 
not  hope  to  make  any  money  or  any  thing  to  sell. 
I  have  known  new  settlements,  remote  from  all  na- 
vigation and  the  interchanges  of  commerce,  to  re- 
main stationary  for  twenty  years  in  this  log  cabin 
state.  No  change  during  all  that  time  except  some 
dirt,  smoke,  and  dilapidation  gathering  around  the 
cabin.  The  individual  begins  by  building  a  cabin 
worth  ten  dollars,  clears  a  few  acres  of  land,  has  a 
sow  and  pigs,  a  cow  and  calf,  and  a  horse,  and  one 
or  at  most  two  beds  on  ash  stands.  He  has  some 
corn  and  pork,  and  hunts  a  little.  His  wife  spins, 
and  by  hand  makes  some  linsey  or  cotton  goods  of 
the  coarsest  sort,  with  which  to  clothe  all  includ- 
ing herself     They  are  able  to  buy  nothing  out  of 


NOTES    ON   POLITICAL    ECONOMY.  91 

the  farm  but  a  little  salt  and  iron.  No  education 
for  the  children,  or  books,  newspapers,  society,  or 
churches,  for  themselves.  All  is  rough,  selfish,  and 
barbarous ;  and  the  head  of  the  cabin,  nothing  but 
a  corn-growing  Indian.  All  advance  in  taste,  lux- 
ury, and  information,  is  precluded.  Is  this  a  desi- 
rable state  in  this  age  of  light  and  improvement? 
Does  it  contribute  any  thing  to  the  credit,  prosper- 
ity, or  resources  of  the  nation  1  Tliis  is  agricul- 
ture on  new  lands,  in  the  back  woods ;  we  want  no 
more  of  it,  we  have  had  a  surfeit.  The  human 
mind  must  advance  in  this  age ;  it  can't  even  be 
stagnant  without  going  backwards  relatively.  In 
this  young  country,  where  a  thousand  things  can 
be  done  if  the  government  be  true  to  its  own  inter- 
ests, and  give  the  proper  inducement,  all  ought 
to  be  put  in  train  to  advance,  and  be  so  placed  as 
to  obey  the  impulses  of  gain  and  independence. 
When  we  see  a  young  people  thrown  out  of  profit- 
able employment,  we  may  take  it  for  granted  that 
something  is  wrong,  that  the  governors  of  the 
country  do  not  promote  its  interests,  and  insure  its 
prosperity  and  developement.  The  body  of  the 
people  seem  to  understand  the  rough  and  unpropi- 
tious  state  of  a  back-woods  settlement,  and  will  al- 
most suffer  rather  than  encounter  it.  They  are 
willing  to  go  to  any  sort  of  manufacturing  or  com- 
mercial pursuits,  rather  than  into  the  woods.  The 
backs  lands  are  a  resource  to  the  country,  and  will 
do  in  the  last  resort,  but  then  only. 

Objection  3d.    We    are   told    that  commerce 


92  NOTES    ON   POLITICAL    ECONOMY. 

will  suffer  and  stagnate  if  we  make  all  of  our  own 
supplies,  that  there  will  be  nothing  for  it  to  occupy 
itself  with.  The  answer  to  this  is  very  simple. 
Commerce,  as  far  as  relates  to  buying  and  selling 
on  the  wholesale  or  retail  principle,  will  be  as  well 
or  better  occupied,  and  taken  up  with  domestic 
commerce,  and  interchanges,  than  with  foreign. 
They  are  more  bulky,  and  safer,  and  the  whole 
operation  more  steady.  No  wars  to  jeopardize,  or 
blockades  to  obstruct,  or  ups  and  downs  of  curren- 
cy from  overtrading  and  reaction.  All  moves 
steadily  and  safely  and  profitably  on  to  support 
and  respectability,  if  not  wealth.  A  merchant 
at  home  has  confidence  in  his  own  business ;  he 
sees  in  it  a  certainty  of  support ;  and  his  mind 
is  not  harassed  all  the  time  with  anxiety  for  the 
future  fate  of  his  capital  and  his  family.  Hence 
he  is  not  on  the  everlasting  stretch  to  make  a  large 
fortune  soon,  or  to  prevent  the  loss  of  one,  and  is 
therefore  a  better  citizen,  and  safer  subject.  As 
to  foreign  commerce,  what  will  be  left  of  it,  will  be 
pretty  much  as  it  now  is.  Tonnage  will  be  taken  up 
in  carrying  our  bulky  raw  materials  and  provisions 
abroad,  and  bringing  back  such  things  as  we  do 
not  raise  or  make.  I  see  nothing  to  affect  com- 
merce unfavorably  in  the  case,  but  some  things, 
and  much  to  stand  it  on  a  better  and  safer  footing, 
^nd  render  it  a  more  steady  and  regular  occupation. 
In  my  chapter  on  commerce,  I  will  show  that  our 
tonnage  duties  as  to  foreign  intercourse  want  regu- 
lating, and  to  be  put  on  a  more  just  footing  for  our  ^ 


NOTES    ON   POLITICAL    ECONOMY.  93 

interests.  I  shall  defer  my  ideas  on  commerce  as 
a  national  policy,  until  I  shall  have  finished  my 
remarks  on  manufactures. 

Objection  ^th.  Another  objection  to  this  course 
is,  they  say,  "  that  if  we  import  no  manufactured 
goods,  the  balance  of  trade  will  be  too  much  and 
too  continually  in  our  favor,  and  Europe  will  have 
to  send  specie  to  meet  this  balance."  "  That  too 
much  specie  will  flow  here,  enough  to  impair  the 
quantity  in  Europe,  producing  spasms  there,  in  the 
banks  of  England  and  France  particularly,  and 
deranging  all  their  values,  exchanges,  and  curren- 
cy.'' "The  consequence  will  be  positive  laws 
prohibitory  of  the  exportation  of  specie,  and  very 
probably  a  revolution  in  England."  "  That  the 
prices  and  values  of  things  will  be  greatly  affected 
there ;  so  much  that  a  little  money  will  buy  a  great 
deal,  and  those  nations  be  unable  to  take  our  raw 
materials  at  all."  It  is  further  said,  "  that  the  abun- 
dance of  money  here  will  lead  to  extravagance  and 
idleness,  and  make  every  thing  worth  so  much 
money,  produce  as  well  as  manufactures,  that 
there  will  be  no  standard  between  us  and  Europe, 
by  which  to  regulate  values."  They  say  too  that 
"  the  price  of  our  surplus  raw  materials  will  be  so 
low,  that  those  great  staple  districts  will  suffer 
much  relative  loss."  Finally,  "they  predict  so 
general  and  wide-spread  derangement  of  business 
and  values,  that  the  whole  world  will  be  put  out 
of  her  ordinary  routine  of  business,  and  have  to 
seek  new  connections."     All  this  is  too  vivid  a  pic- 


94  NOTES    ON    POLITICAL    ECONOMY. 

ture,  and  one  that  will  not  be  realized  to  the  extent 
of  much  mischief  and  derangement.  Values  will 
be  somewiiat  affected,  but  not  so  much  as  to  pro- 
duce spasm.  All  our  difficulties  here  will  be  com- 
pensated by  the  great  abundance  of  money,  which 
we  can  use  in  the  arts  and  in  plate.  And  all  the 
difficulties  in  Europe  yield  to  the  fact,  that  less 
money  will  buy  all  they  want,  and  serve  them 
just  as  well  as  more  did.  Some  new  channel,  some 
new  device,  or  new  productions  and  barters,  will 
come  in  aid  of  such  a  state  of  things,  and  restore 
the  balance.  The  growers  of  the  raw  materials  in 
our  country  will  be  mainly  supported  by  our  own 
demand,  w^hich,  under  a  proper  protection,  will  be- 
come the  absorbing  one,  and  govern  the  market. 
Should  we  get  under  way,  aided  by  a  protecting 
tariff,  we  will  not  stop  short  of  supplying  the  whole 
world,  and  taking,  with  our  advantages,  all  the 
markets  under  our  control  and  management. 

Objection  dth.  We  are  told  "that  if  a  tariff  be 
laid  strong  enough  to  protect  and  encourage  the 
making  of  the  whole  supply,  that  smuggling  will 
spring  up  and  impair  or  defeat  the  whole  object 
aimed  at."  This  has  been  the  standing  cry  of  all 
the  anti-tariff  party  from  time  immemorial,  but 
their  prophecies  have  not  been  fulfilled  to  much  ex- 
tent. The  hazards  of  smuggling  amount  to  a 
pretty  large  protection,  and  by  the  time  they  are 
paid,  and  something  for  the  wear  and  tear  of  char- 
acter and  conscience  allowed  for,  there  will  not  be 
much  smuggling.   Our  own  competition,  too,  springs 


NOTES    ON    POLITICAL    ECONOMY.  95 

up  SO  rapidly,  that  prices  are  soon  so  nearly  bal- 
anced here  and  in  England  that  there  is  no  mar- 
gin left  for  smuggling.     This  bugbear,  clothed  in 
immorality,  and  without  any  patriotic  feeling  about 
it,  ought  not  to  deter  the  real  friends  of  their  coun- 
try from  doing  their  duty.     As  well  might  a  na- 
tional legislature  refuse  to  pass  a  law  against  any 
crime,  because  some  member  alleged    that   some 
rascals  would  escape  the  penalty  of  the  law.    The 
Atlantic  ocean  is  so  wide,  and  our  revenue  police 
and  cutters  so  active,  that  but  few  will  attempt  it. 
Objection  6th.    Another  objection  to  manufac- 
turing very   extensively  is,  "  that  it  confines  the 
operatives  and  their  families  so  much  that  they  be- 
come immoral,  unhealthy,  and  the  race  degener- 
ates."    There  are  such  scenes  in  England,  where 
wages  are  small  and  cut  down  to  minimum  rates, 
or  bare  subsistence.    In  this  country,  as  far  as  we 
have  yet  gone,  comfort,  health,  decency,  and  edu- 
cation accompany  that  class ;  and  they  are  as  in- 
telligent, healthy,  and  moral,  as  any  portion  of  our 
population  that  has  to  labor.     The  manufacturing 
operations  can  be  carried  on  consistently  with  all 
that  is  due  to  a  useful  population.     All  the  pride 
of  patriotism,  decency  of  person,  neatness  of  dress, 
purity  of  manners  and  language,  comport  with  that 
state  in  this  country.     A  population  thus  concen- 
trated, and  decent  and  orderly,  can  be  made  very 
scientific  by  night  lectures,  and    libraries.     The 
Lancastrian  monitorial  system  of  education  can  be 
applied  to  the  rising  generation,  and  night  lectures 


96  NOTES    ON    POLITICAL    ECONOMY. 

and  experiments  take  up  the  adults.  In  New  Eng- 
land an  esprit  de  corps  for  decency,  morality,  religion, 
and  character,  runs  with  the  operatives,  that  has 
done  wonders,  and  preserved  sobriety,  temperance, 
and  self-respect,  as  well  as  morality,  virtue  and  in- 
dustry. In  New  England,  a  great  deal  of  money  is 
not  only  made,  but  saved,  and  invested  in  savings 
banks  for  future  use. 

Where  thousands  of  young  women  are  collect- 
ed about  the  factories  of  Lowell,  Nashua,  Great 
Falls,  Pawtucket,  Patterson,  and  other  places,  there 
is  scarcely  an  instance  of  bastardy ;  not  so  many 
they  say,  who  know,  as  among  the  same  amount 
of  farmers,  or  agriculturists.  Ideas  become  prop- 
erty in  common  among  them.  The  health  of  the 
manufacturers  of  New  England  is  not  worse,  nor 
even  as  delicate  as  the  people  in  cities,  particularly 
in  those  parts  of  cities  where  the  poor  live,  gen- 
erally in  confined  and  dirty  lanes.  Nothing  need 
be  jeopardized,  then,  on  the  score  of  health  or 
morals,  in  the  case  of  the  operatives  in  the  manu- 
facturing districts  of  this  country,  taking  the  facts 
named  above  as  data  and  the  basis  of  all  new  es- 
tablishments ;  and  much  may  be  gained  in  comfort, 
taste,  and  education,  over  agriculturists,  from  this 
favorable  situation. 

Objection  7th.  It  is  contended  and  used  as  an 
objection  to  the  protecting  tariff,  '^  that  if  we  make 
our,  own  supplies  up  to  the  full,  Europe,  and  Eng- 
land in  particular,  would  not  take  our  raw  materi- 
als."    They  pretend  that  she  does  that  on  the  prin- 


NOTES    ON    POLITICAL    ECONOMY.  97 

ciples  of  reciprojial  trade,  and  takes  our  raw  things, 
as  far  as  we  take  her  goods.  This  is  not  true ;  for 
they  take  no  more  of  our  things,  at  any  rate,  than 
they  want,  and  must  have.  The  idea  of  mutual 
interest  never  entered  into  their  calculations.  They 
shut  their  ports  against  our  provisions  and  corn, 
and  against  all  of  our  manufactures,  by  such  high 
duties,  that  none  scarcely  go  in,  and  yet  clamor  if 
we  attempt  to  supply  our  own  wants.  This  is 
reciprocity  with  a  vengeance.  History  could  not 
furnish  an  instance  of  more  selfishness  than  Eng- 
land manifests,  or  more  arrogating  injustice.  We 
have  the  meanness  too  of  not  only  not  countervail- 
ing it,  but  actually  contributing  to  keep  up  that 
one-sided  state  of  trade.  Our  anti-tariff  politicians, 
are  as  much  playing  into  the  hands  of  the  English, 
in  all  their  measures,  as  if  the  words  w^ere  put  into 
their  mouths  by  England,  and  our  laws  penned  by 
her  too.  It  is  strangely  inconsistent  that  a  party 
should  exist  in  this  free  country,  in  one  breath 
abusing  England  with  fixed  hatred,  and  in  the  next 
moment  contributing  to  all  her  injustice,  and  even 
preferring  her  interests  to  New  England,  as  to  man-  ^010; 
ufactures.  I  have  witnessed  cases  where  English 
goods  of  a  worse  quality,  and  dearer,  were  prefer- 
red to  better  goods  from  New  England.  England 
goes  on  the  principle  of  buying  nothing  but  raw 
materials,  or  such  tropical  or  southern  luxuries  as 
she  can't  produce,  and  buys  them  invariably  where 
she  can  the  cheapest. 

No  nation  has  acted  more  impolitically,  with 
8 


98  NOTES    ON    POLITICAL    ECONOMY. 

all  her  shrewdness  and  selfishness,  than  England. 
She  has,  by  her  injustice,  and  grasping  arrogance 
and  war,  forced  the  United  States  into  manufac- 
turing, pretty  well  up  to  their  own  consumption. 
Nothing  of  the  sort  was  aimed  at  before  England 
began  her  oppressions.  Had  England  had  fore- 
sight enough  to  have  made  with  us  reciprocal 
treaties,  based  on  mutual  interests  and  on  our  respec- 
tive productions,  both  nations  would  have  found 
their  interest  in  it.  Had  England,  for  instance,  let 
our  corn  and  pork  in  at  a  low,  or  no  duty,  and  our 
raw  materials  too,  we  would  have  leaned  on  agri- 
culture with  a  view  of  supplying  her,  and  never 
have  gone  into  manufactures,  except  in  the  family 
way.  On  the  lowest  estimate,  if  England  had 
taken  our  corn,  and  provisions  generally,  since  the 
year  1790,  it  would  have  counted  us  by  this  time 
one  thousand  million  of  dollars,  at  the  least,  and 
have  enriched  us.  She  too,  would  have  secured  in 
us  an  everlasting  customer,  that  would  of  course 
have  enriched  her  in  a  still  more  signal  way ;  for 
manufacturers  in  interchanges  always,  from  the 
nature  of  the  productious,  have  advantages  over 
agriculturists.  Nothing  but  her  aristocracy  and 
a  short-sighted  policy,  has  held  her  to  the  restric- 
tive system  in  regard  to  us  and  our  provisions. 
Her  loss  is  irreparable,  for  she  has  lost  her  best 
customer  for  ever,  and  built  up  for  herself  a  rival  in 
all  the  markets  of  the  world  besides.  No  two  na- 
tions ever  existed,  that  could  have  played  into  each 
other's  hands  so  completely,  as  this  country  and 


NOTES    ON   POLITICAL    ECONOMY.  99 

England ;  from  the  diversified  character  of  their 
productions,  and  capacities  to  furnish  such  things 
as  each  wanted.  This  was  seemingly  aided  too  by 
the  same  language  and  habits,  free  institutions,  and 
enterprise  in  their  people. 

Let  us  now  go  back  to  the  first  idea,  "  that  Eng- 
land will  not  take  our  raw  materials  unless  we  take 
her  manufactures;"  analyze  it  a  little  closer,  and 
look  at  it  in  its  true  bearings.  Is  it  not  surprising, 
and  past  all  belief,  that  our  greatest  men  from  the 
south,  and  many  of  the  leaders  of  party,  should 
have  risked  their  reputation  for  thought,  and  char- 
acter, and  consistency,  so  far  as  to  have  asserted, 
on  the  floor  of  Congress,  "  that  unless  we  take  our 
supplies  of  goods  from  England,  she  will  not  take 
our  raw  cotton?"  And  further,  "That  because 
the  export  of  cotton  gives  us  most  of  our  export 
value,  it  must  pay  and  does  pay  one-half  of  all  the 
imposts  7"  "  That  the  growers  of  it  do  to  that  ex- 
tent," they  say,  "  pay  the  taxes  of  this  government." 
This  last  idea  is  too  absurd  for  serious  discussion, 
and  can't  hope  to  disturb  the  self-evident  fact,  that 
it  is  the  consumer,  the  world  over,  that  pays  the 
tax.  We  leave  that  to  its  own  absurdity,  and  in- 
quire into  the  other  idea,  "  that  England  will  not 
take  our  raw  material,  of  cotton  particularly,  un- 
less we  take  our  supply  of  goods  from  her."  Eng- 
land has  been  true  all  the  time  to  her  maxim  of 
buying  what  raw  materials  she  wants,  wherever  she 
can  buy  the  cheapest,  and  in  no  instance  does  she 
depart  from  it.     I  will  lay  it  down  as  a  fact,  tha 


100  NOTES  ON   POLITICAL    ECONOMV. 

all  our  cotton,  as  well  as  what  is  made  every  where 
else,  is  wanted  and  actually  consumed.  The  stock 
even  now  in  England,  although  comparatively 
large,  is  fading  away  so  fast  as  to  almost  create  an 
alarm.  We  will  illustrate  this  subject  now,  by  a 
fact  that  will  perhaps  produce  some  surprise.  We 
send  to  Europe  about  1,700,000  bales  of  cotton 
now,  and  take  back  in  the  shape  of  cotton  goods 
of  all  sorts,  from  every  nation,  only  60,000  bales 
in  all.  I  prove  this  in  this  way :  our  custom-house 
furnishes  the  data  that  we  are  now  importing 
but  8,000,000  dollars  worth  of  cotton  goods  from 
the  whole  world.  Now  by  casting  our  data  upon 
the  difference  of  the  raw  and  wrought  value  of 
cotton,  we  can  come  at  the  fact.  The  wrought 
value  of  such  fine  goods  as  we  take  from  Europe, 
is  six  times  the  raw.  Now  if  8,000,000  dollars  buy 
the  wrought,  by  the  inverse  rule  of  three  what  must 
the  raw,  entering  in  it  as  one  to  five,  cost?  The 
answer  is  about  60,000  bales.  This  fact  would 
have  astonished  those  great  politicians  referred  to, 
if  they  had  ever  extended  their  minds  so  far,  or  if 
their  prejudices  would  have  suffered  it.  Were  our 
custom,  therefore,  withdrawn  from  England,  it 
would  not  be  felt  much.  This  fact  bears  directly 
on  the  idea,  that  England  will  not  take  our  cotton 
unless  we  take  her  goods,  and  shows  its  emptiness. 
England  wants  our  raw  cotton  for  her  other  cus- 
tomers and  her  own  consumption,  and  must  have 
it.  She  is  now  consuming  thirty  thousand  bales  a 
week,   and  must  have  all  of  1,500,000  bales  to 


NOTES    ON    POLITICAL    ECONOMY.  101 

make  up  her  quota  and  prevent  her  spindles  stop- 
ping, which  would  be  spasms  and  death  to  her  in 
these  times  of  general  thrift. 


CHAPTER    XVII. 

OUR  CAPACITY  TO  GROW  COTTON  CHEAPER  THAN  ANY 
COUNTRY. 

Another  question  arises  in  connection  with  the 
above,  as  to  the  capacity  to  grow  cotton  in  the 
United  States,  compared  with  other  nations,  and 
whether  the  market  can  be  supplied  and  overdone, 
or  not?  The  capacity  in  the  United  States  to  grow 
cotton,  hardly  knows  any  limits.  I  will  assert  here 
that  we  can  grow  it  cheaper  than  other  nations,  up 
to  any  demand  for  it,  and  will  take  the  markets  of 
the  world  for  that  article,  particularly  on  this  side 
of  the  Cape  of  Good  Hope.  Slavery  is  fixed 
enough  in  the  United  States,  to  count  certainly  on 
its  productions  for  the  next  fifty  years  at  least,  and 
will  take  hold  of  the  staple  of  cotton,  stronger  and 
stronger  every  year.  The  average  crop  in  this 
country  now,  is  two  million  bales ;  of  this  we  spin 
four  hundred  thousand.  England  wants  at  least, 
one  million  bales  of  our  cotton,  and  the  balance  of 
Europe,  not  less  than  six  hundred  thousand.  We 
see  that  our  crop  is  now  fully  up  to  the  consump- 
tion of  the  whole  market,  and  will  increase  faster 


1^2  NOTES    ON   POLITICAL    ECONOMY. 

than  that  consumption.  It  is  calculated  that  with 
Texas  our  annual  increase  of  production  will  be 
not  less  than  two  hundred  thousand  bales,  whilst 
the  increased  consumption  will  not  be  much  more 
than  half  of  that  amount.  We  can  grow  cotton 
cheaper  than  any  other  people,  and  of  a  better 
quality.  As  our  agriculture  is  so  much  overdone  in 
other  productions,  and  as  so  many  slaves  are  nearly 
idle  north  of  the  cotton  district,  and  no  limit  to  the 
fertile,  cheap  land,  and  a  suitable  climate  for  cot- 
ton, the  tendency  is  that  way,  and  continual  and 
great  increase  may  be  looked  for  in  its  growth. 
Nothing  is  looked  to  by  these  slaveholders  but 
annual  surplus,  I  mean  the  balance  that  is  in  hand 
at  the  end  of  the  year,  over  and  above  the  outlay 
and  expenses  for  that  year.  They  own  the  slaves, 
and  never  count  them  as  capital  or  calculate  any 
interest  on  their  cost  unless  a  new  plantation  is  be- 
ing made  as  an  investment  by  some  capitalist ; 
where  the  land  and  slaves  have  all  to  be  bought, 
then  the  annual  profit  is  calculated.  There  are 
few  new  investments  in  that  way;  all  the  increase 
of  crop  is  from  an  increase  of  slaves,  partly  in  a 
natural  way,  and  partly  by  their  owners  bringing 
them  from  the  north,  where  they  were  unproduc- 
tive. 

Let  us  now  calculate  what  cotton  can  be  grown 
for,  when  prices  get  down  to  a  mere  support  for 
master  and  slave.  With  the  proper  economy,  by 
the  owner  living  on  his  place,  deriving  his  house- 
hold and  table  expenses  from  it,  and  clothing  and 


NOTES    ON   POLITICAL    ECONOMY.  103 

feeding  his  own  slaves,  his  annual  expenses,  count- 
ing salt,  iron,  medicines,  taxes5  wrapping  for  his 
cotton,  and  overseer's  wages,  do  not  exceed  two 
cents  a  pound  on  the  product  or  crop  ;  all  over  that 
is  profit  in  their  sense,  that  is,  over  and  above  an- 
nual expenses.  I  will  give  the  detail  to  make  this 
clear.  A  plantation  of  fifty  hands,  makes  the 
average  of  seven  bales  to  the  hand,  weighing  four 
hundred  and  fifty  pounds;  this  is  three  hundred 
and  fifty  bales.  Suppose  two  cents  for  expenses, 
this  amounts  to  $3150  on  the  crop.  This  crop,  say, 
sells  for  four  cents  a  pound  neat,  and,  clear  of 
charges  for  transportation,  insurance,  and  commis- 
sions for  selling,  leaves  $3150  profit  for  the  luxu- 
ries of  the  owner,  who  gets  his  necessaries  out  of 
the  plantation  by  living  on  it.  This  is  a  very 
pretty  sum  ;  and  half  of  it  would  be  ample  for  him, 
which  would  reduce  cotton  to  three  cents.  As  to 
insurance,  unfortunately  the  slaves  not  only  insure 
themselves,  but  give  a  large  increase,  which  grows 
up  with  the  owner's  children,  and  furnishes  them 
with  outfits  by  the  time  they  need  them.  Now  I 
will  go  into  a  calculation  to  show  that  two  cents  a 
pound  cover  the  annual  expense.  Here  follow  the 
items,  taking  a  plantation  of  fifty  hands  as  a  basis. 
— For  overseer,  $500;  for  salt,  $20;  iron,  $30; 
medicines,  $20;  doctor's  bill,  $100,  for  you  can 
contract  by  the  year,  and  it  is  often  done  at  two 
dollars  a  head  ;  bagging  and  rope  to  wrap  it,  at 
twelve  and  a  half  cents  for  the  one,  and  five  cents 
for  the  other,  amount  to  $300 ;  taxes,  $100 ;  sun- 


IM  NOTES    ON    POLITICAL    ECONOMY. 

dry  small  things,  $100,  all  told.  (The  writer  speaks 
from  experience,  for  he  is  a  planter  of  cotton  and 
owns  slaves.)     All  this  amounts  to  $1070,  much 
below  the  allowance  of  two  cents  a  pound,  amount- 
ing, as  we  have  seen,  to  $3150.    I  only  wish  to 
show  that  we  can  grow  cotton  at  three  cents  a 
pound,  and  have  a  living  profit.     This  will  carry 
on  the  culture  unabated,  and  increase  the  popula- 
tion from  the  sources  named.     It  is  one  of  those 
accumulated    tides    that    rolls  itself  on ;    or    one 
of  those  sweeping  tornadoes  that    carries   on  its 
might  by  some  inherent  elasticity.     We  can  grow 
it  cheaper  than  all  other  people  for  the  above  rea- 
sons, and  take  the  whole  supply  of  the  world,  at 
least  our  world,  this   side  of  the  Cape  of   Good 
Hope.     Besides  the  calculations  of  cost  gone  into 
above,  we  know  the  fact,  that  as  long  as  there  is 
any  surplus  or  result  annually  above  expense,  the 
slaves  engaged  in  it  will  go  on,  and  with  increased 
energy  and  skill,  just  in  proportion  to  the  lowness 
of  price.     This  habit  the  slave-owner  has  of  not 
counting  his  slaves  as  capital  at  all,  or  sinking  them 
to  nothing  in  the  estimate,  as  far  as  investments 
are  concerned,  is  hard  to  meet,  and  still  harder  to 
beat.     Were  there  any  other  cultures  that  promised 
the  certainty  of  a  better  and  permanent  profit  to 
slaveholders,  there  would  be  some  danger  of  hav- 
ing this  staple  aflfected.     It  however  is  as  profitable 
as  any ;  less  overdone,  and  more  permanent  in  its 
character  and  market.     Tliis,  in  connection  with 
the  fact  that  they  are  in  possession  of  costly  ma- 


NOTES    ON   POLITICAL    ECONOMY.  105 

chinery  fixed  in  this  culture,  will  keep  all  the  slaves 
and  their  increase  at  it  all  the  time.  There  is  an 
energy  and  skill  in  the  masters  of  this  country  that 
not  only  organizes  slavery  in  a  safe  way,  but  stim- 
ulates it,  and  makes  it  almost  twice  as  productive 
as  it  ever  was  in  the  West  Indies,  or  South  America. 
This  is  more  manifest  in  the  cotton  culture  than 
others,  and  powerfully  affects  its  volume  and  profits. 
This  habit  of  looking  to  annual  results  or  surplus 
only,  will  insure  the  continuance  of  this  culture, 
even  in  the  poorer  lands,  where,  although  the  pro- 
fits are  less,  they  show  some  result ;  and  being 
on  account  of  the  poverty  of  the  soil  the  -more 
healthy,  the  owners  all  live  on  their  property  and 
need  less  income.  The  cotton  culture  then  is  sure 
to  go  on  in  this  country,  at  any  price,  from  three 
cents  up,  that  the  market  warrants,  and  with  in- 
creased energies.  These  facts  warrant  us  in  assert- 
ing, which  we  do  broadly  and  unqualifiedly,  that  we 
can  grow  cotton  cheaper  than  any  other  people  on 
earth,  not  even  excepting  the  Hindoos.  The  con- 
sequence of  this  will  be  that  we  will  take  the 
market  of  the  whole  world,  and  keep  it  supplied 
with  cotton. 

Let  us  now  institute  some  comparison  between 
the  United  States  and  other  countries,  in  reference 
to  this  culture.  The  otlier  country  that  we  dread- 
ed most  as  a  rival  is  Brazil.  Here  I  will  make  one 
general  remark,  that  applies  emphatically  to  Amer- 
ica and  the  West  Indies,  that  is,  that  no  free  men 
ever  have  or  will,  at  minimum  prices,  cultivate  cot- 


'I^^^^H 


106  NOTES    ON   POLITICAL    ECONOMY. 

ton  at  all.  The  only  cotton  then  sent  out  of  this 
continent,  will  be  grown  by  slaves.  Brazil  is 
a  slave  country,  and  a  fertile  one.  The  cotton 
crops  have  been  for  many  years  without  much  in- 
crease, running  about  two  hundred  thousand  bales 
of  the  weight  of  ours.  As  cotton  falls  in  its  price, 
does  she  quit  its  culture,  and  go  to  others.  She  has 
the  sugar,  coffee,  cocoa,  dyestuflfs,  diamonds,  gold, 
and  all  the  tropical  productions  to  back  upon,  when 
cotton  does  not  promise  a  profit.  Sugar  and  coffee 
there  are  increasing  because  slavery  in  Hayti,  the 
British  Islands  and  Caraccas,  has  been  discharged, 
and  sugar  and  coffee  affected  to  that  extent ;  for  as 
sure  as  the  sun  rises,  all  heavy  staples  will  cease 
with  slavery  ere  long.  Hayti  once  flooded  Europe 
with  her  sugar  ;  now  she  does  not  produce  enough 
for  her  own  use.  Brazil,  therefore,  whilst  her  slave- 
ry lasts,  will  not  cultivate  cotton  at  low  prices,  but 
lean  on  her  other  staples  ;  at  the  least  she  will  not 
increase  her  cotton  culture ;  and  the  next  revolution 
there  will  most  probably  put  an  end  to  slavery, 
and  mix  it  m  with  the  population,  that  is  pretty 
well  tainted  with  the  blood,  and  prepared  for  such 
an  event.  Brazil  need  not  then  be  feared  as  a  cot- 
ton-growing rival.  Next  comes  the  West  Indies, 
including  Berbice,  Demarara,  and  Surinam.  In  the 
West  Indies,  the  cheniel,  storms,  and  better  staples 
have  banished  cotton  long  since ;  and  it  is  no  longer 
among  their  staples.  Berbice  and  Demarara  are 
rather  exceptions.  The  facts,  however,  there,  do 
not  favor  any  increased  culture.     In  the  English 


NOTES    ON    POLITICAL    ECONOMY.  107 

part,  slavery  is  discharged,  and  soon  will  be  in  the 
other  parts  of  that  region.  France,  Holland,  Swe- 
den, and  Denmark,  will  soon  discharge  slavery  in 
their  islands  and  on  the  main,  and  some  of  the  re- 
volutions ere  long  reach  the  Spanish  islands. 
We  now  come  to  Egypt  and  the  Levant.  In  the 
latter  region  it  amounts  to  nothing ;  and  in  Egypt 
is  a  forced  culture  on  the  principle  of  slavery,  and 
will  end  with  the  Pasha's  life  in  a  few  years.  The 
change,  and  most  probably  the  distraction  attend- 
ant on  the  Pasha's  death,  will  put  an  end  to  this 
organization.  It  never  exceeded  two  hundred 
thousand  of  our  bales,  and  will  be  less  before  it  is 
more.  The  Pasha  says,  moreover,  that  he  will  not 
grow  it  at  the  present  low  prices ;  as  he  has  his 
corn,  and  sugar  crops,  and  even  rice,  that  will  be 
more  profitable. 

We  will  now  go  to  the  East  Indies,  Bombay, 
and  other  parts  of  the  British  possessions  in  Hin- 
dostan.  Much  has  been  said  as  to  the  capacity  and 
cheapness  of  this  country,  in  reference  to  the  cot- 
ton product,  and  many  threats  thrown  out  both  by 
the  English,  and  our  own  politicians,  as  to  what 
this  great  country  can  or  would  do.  This  has  led 
to  much  inquiry,  and  I  have  convinced  myself  that 
we  can  beat  even  the  East  Indies  in  this  culture  ; 
and  will  beat  them  out  of  all  the  markets  of  Eu- 
rope and,  I  believe,  China.  They  have  never  rais- 
ed it  under  four  cents  as  a  staple ;  and  will  not, 
because  they  are  an  indolent  people  ;  have  no  wants, 
and  cannot  be  stimulated  without  great  rewards  or 


108  NOTES    ON   POLITICAL    ECONOMY. 

inducements.  Labor  is  cheap  there,  but  very  ineffi- 
cient ;  one  American  slave  is  made  to  do  as  much  as 
five  of  those  laborers,  at  the  safest  estimate.  They 
have  no  contrivance,  or  spirit,  or  ingenuity.  Their 
cotton  is  of  a  very  low  and  bad  quality,  and,  from 
experiments  lately  made,  cannot  be  improved.  The 
reason  is,  it  rattoons  or  becomes  a  tree,  and  the  cot- 
ton borne  on  these  trees  is  short,  harsh,  small  in 
quantity,  and  very  difficult  to  gather.  All  rattoon 
cotton,  even  in  the  West  Indies,  or  South  America, 
is  of  a  vrorthless  and  very  inferior  quality.  Amer- 
icans and  good  machinery  were  taken  out  to  Bom- 
bay to  improve  the  quality  of  their  cotton.  These 
men  were  neighbors  of  mine,  and  since  their  return, 
I  have  seen  and  talked  with  them  in  detail.  They 
are  practical  men,  and  do  not  hesitate  to  say  that 
the  culture  there,  on  the  American  annual  planting 
system,  is  a  total  failure,  and  from  the  nature  of  the 
climate  must  be  so.  The  climate  is  too  dry ;  needs 
irrigation,  which  alone  insures  a  failure.  When 
the  market  is  excited  enough  for  orders  to  go  from 
Europe  to  Bombay  for  cotton,  the  factors  pass  the 
word,  and  the  Gentoos  go  to  work  and  collect  it 
from  the  trees  growing  around  their  huts,  or  around 
waste  places,  until  the  quantity  wanted  is  made  up. 
Then  it  all  ceases  until  the  market  authorizes  ano- 
ther picking.  This  accounts  for  the  ups  and  downs 
of  the  cotton  market  in  Europe,  for  the  last  fifty 
years.  As  soon  as  the  stock  diminished  enough  in 
Liverpool  to  create  any  alarm  or  anxiety  about  the 
supply,  up  went  the  price,  sometimes  to  thirty  cents. 


NOTES   ON   POLITICAL    ECONOxMY.  109 

Then  heavy  orders  went  to  the  East  Indies,  and  the 
high  price  stimulated  the  Gentoos  to  strip  every 
tree  in  the  whole  land  to  fill  these  orders,  and  a 
large  quantity  of  cotton  arrived  in  Europe,  enough 
to  swell  the  stock  and  dash  the  price  down  to  less 
than  half  what  it  was.  The  same  thing  was  re- 
peated as  fast  as  they  worked  the  stock  down; 
hence  the  vibrations  that  we  have  witnessed  in  the 
cotton  market ;  some  of  them  of  magnitude  enough 
to  disturb  all  the  interests  in  Europe  and  America^ 
and  produce  convulsions  in  the  money  market,  by 
deeply  affecting  all  values.  Fortunately  for  the 
country,  and  particularly  for  Europe,  these  vibra- 
tions must  now  cease ;  because  our  crops  hereafter, 
and  even  now,  do  meet  all  the  wants  of  Europe,  and 
furnish  a  better  quality  of  cotton  to  the  manufactu- 
rers. Our  crop  will  never  again,  as  we  have  shown 
above,  drop  below  the  consumption  ;  on  the  con- 
trary, will  keep  ahead  of  it  enough  to  let  down  the 
price  to  the  minimum.  Then,  as  said  before,  we 
will  have  the  whole  market,  and  even  the  Surats 
no  longer  travel  around  the  Cape  of  Good  Hope. 
The  markets  then  of  every  thing  will  be  more 
steady,  for  cotton  seems  to  be  the  master  spirit  that 
disturbs  all,  and  deranges  all.  The  American  mas- 
ter will  lean  upon  his  low,  but  certain  income ;  raise 
all  his  supplies,  and  make  a  thousand  improvements 
that  will  redound  to  the  comfort  of  the  slaves,  and 
the  pride  and  elegance  of  the  owner.  In  the  cot- 
ton culture  there  is  time  to  do  much  in  the  way  of 
improvements.     The  slaves  are  many  of  them  car- 


110  NOTES    ON    POLITICAL    ECONOMY. 

penters,  masons,  smiths,  brick-makers,  and  garden- 
ers, and  can  do  all  these  things  between  the  coming 
in  of  a  new  crop,  and  the  going  out  of  the  last.  A 
planter,  too,  can  and  does  raise  all  his  food,  both 
meat  and  bread,  and  a  comfortable  supply  of  vegeta- 
bles, and  a  dairy ;  and  does  all  this  without  taking 
any  time  from  the  cotton,  for  these  things  are 
either  incidental  cultures,  or  come  in  before  or  after 
cotton,  so  as  not  at  all  to  interfere  with  it.  I  am 
not  speaking  hypothetically,  when  I  say  the  United 
States  can  grow  all  the  cotton  wanted ;  have  slaves 
and  land  enough  to  do  it,  and  even  overdo  it.  This 
country  can  raise  three  million  bales,  just  as  easily 
as  she  now  does  two  millions,  when  that  much  is 
wanted,  and  then  keep  ahead  of  the  consumption 
far  enough  to  prevent  any  advance  in  the  price. 
This  culture  embraces  such  an  extent  of  country, 
from  the  Roanoke  to  the  Rio  Grande  on  the  sea- 
coast,  turning  some  very  prominent  capes,  and  from 
the  Cumberland  river  to  the  Gulf  of  Mexico,  that 
it  cannot  fail  extensively  from  any  one  cause.  The 
worms  prevail  in  one  district,  and  twenty  others 
have  none.  A  drought  never  affects  more  than 
one-fifth  or  one-sixth  at  a  time,  nor  too  much  wet 
either.  A  tornado  is  always  very  limited  ;  and  an 
extensive  gale  never  reaches  the  Atlantic  and  Gulf 
both  in  its  sweepings.  Nothing  can  therefore  pros- 
trate one-fourth  of  a  crop,  or  even  one-fifth  of  it  at 
once.  The  production  is  sure  to  be  adequate,  and 
keep  ahead  of  all  wants. 

This  is  a  fact  upon  which,  both  in  England  and 


?»r#     V  NOTES    ON   POLITICAL     ECONOMY.  Ill 


m 


in  this  country,  much  might  be  built  as  regards  the 
great  interests  of  the  money  operations,  manufac- 
tures, and  commerce.     Some  of  the  best  and  most 
important  principles  in  political  economy  might 
derive  aid  and  illustration  from  it,  and  many  great 
movements  be  governed  by  it.     It  behooves  all  po- 
litical economists,  all  financiers,  all  statesmen,  all 
manufacturers,  and  merchants,  to  examine  the  facts 
closely  before  they  make  any  changes  in  their  bu- 
siness.   If  we  keep  cotton  down,  not  to  its  minimum 
price,  but  to  five  or  six  cents,  it  will  cease  to  come 
around  the  Cape  of  Good  Hope,  and  the  United 
States  have  the  market  of  the  world  just  as  cer- 
tainly as  at  three  cents.     The  Surats  are  the  last 
rivals  that  are  to  be  vanquished  by  the  superior 
energy,  ability,  and  organization  of  this  country, 
and  forced  to  quit  the  field  that  legitimately  be- 
longs to  us.     England  and  Europe  owe  us  thou- 
sands of  millions  of  money  for  cotton  crops  yet 
unborn,  but  which  time  will  mature,  and  enable 
us  to  close  this  great  mortgage  that  nature  and  art 
have  given  to  us  upon  the  industry  of  the  world. 
The  carding  of  cotton  and  wool  together  will  carry 
the  use  of  cotton  into  the  winters  of  every  country, 
and  increase  its  consumption  one  fourth  at  least. 
A  sort  of  goods  are  thus  made  that  fit  all  warm 
or  temperate  latitudes,  and  the  two  seasons  of  the 
year,  fall,  and  spring,  that  are  too  warm  for  wool- 
len, and  too  cold  for  cotton.     There  is  a  suppleness 
in  these  goods  that  fits  them  admirably  for  ladies' 
clothing  and  children's,  where  the  form  and  action 


112  NOTES    ON   POLITICAL    ECONOMY. 

will  not  be  encumbered.  Substitution  of  cotton 
for  many  things  will  take  place  when  the  value  is 
let  down  to  a  low  price,  and  give  greater  extent  to 
its  use.  Three  million  bales  at  four  cents  a  pound, 
is  eighteen  dollars  a  bale,  and  will  amount  to  the 
enormous  sum,  even  at  that  minimum  price,  of 
fifty-four  million  dollars,  which  will  be  realized  by 
one  fifth  part  of  the  population  of  the  United  States, 
counting  slaves  and  children,  and  leaving  out  the 
slaves,  by  one-tenth  part  of  this  nation.  This  is 
fully  one  half  of  the  revenue  of  the  country  arising 
from  exports.  This  shows  what  a  margin  the  cot- 
ton interest  has  yet  for  profit,  and  how  truly,  as  we 
have  said,  it  can  descend  much  lower  in  the  scale 
of  compensation  to  its  producers,  and  enable  them 
to  live  comfortably,  and  carry  it  on  to  the  same  and 
greater  extent.  The  whole  body  of  slaves  will, 
like  the  northern  Goths  and  Vandals,  move  south- 
wardly in  a  body,  or  enough  of  them  to  put  the  profits 
of  the  cotton  culture  as  low  as  grain  and  tobacco 
have  become,  and  equalize  labor  of  that  descrip- 
tion in  the  United  States. 

The  above  showing  and  reasoning  does  away 
the  idea  with  which  our  own  and  English  politi- 
cians threaten  us,  "  that  England  would  not  take 
our  raw  cotton  if  we  refused  to  take  her  goods ; 
would  draw  her  supply  from  other  quarters,  and 
stimulate  her  own  East  Indies  to  produce  enough 
to  meet  her  demand."  She  dare  not  decline  taking 
our  cotton,  for  it  is  cheapest,  and  because  she  has 
built  up  her  manufactories  on  the  minimum  price 


NOTES  ON  POLITICAL  ECONOMY.       113 

of  the  raw  material,  and  buys  it  wherever  cheap- 
est, and  have  conformed  all  prices  of  labor  and 
goods  to  that  principle.     England  has  in  France 
and  Germany,  as  w^ell  as  in  us,  rivals  to  her  cotton 
manufactures,  and  such  skilful  rivals,  too,  that  she 
dare  not  pay  more  for  the  raw  material  than  they 
do.     If  she  were  to  pay  two  cents  a  pound  more  for 
cotton  than  we  do,  or  than  the  Continent  of  Europe 
does,  she  would  lose  her  hold  on  the  cotton  manu- 
facture, and  her  opponents  would  take  her  mar- 
kets.    The  half  penny  a  pound  duty  now  levied 
in  England,  will  have  to  give  way  to  insure  her 
success.     There  is  no  danger  then  of  England  ever 
paying  more  for  raw  materials,  by  the  operation  of 
a  law  of  her  own  passing,  than  the  rest  of  the  cot- 
ton world.     For  the  same  reason  she  cannot  afford 
to  give  a  bounty  to  the  East  or  West  for  raw 
cotton ;  it  would  throw  her  behind,  and  prostrate 
her.*    We  have  seen  that  the  Surats  cannot  be 
grown  and  brought  around  the  Cape,  where  double 
freights  exist,  as  cheap  as  we  can  furnish  a  better 
article.    England  will  continue,  in  the  nature  of 
things,  and  from  the  very  necessity  of  the  case,  to 
take  our  cottons  as  far  as  she  wants  them,  and  pay 
for  them  in  specie,  even  if  we  should  not  want  her 
manufactures.    Another  branch  of  the  argument 
is,  that  if  we  want  nothing  from  England,  our  crop 
will  not  be  wanted.    We  have  made  this  all  clear 
in  the  previous  paragraphs.    We  will  merely  add 
here,  that  between  us  and  England  it  is  a  plus  and 
minus  state,  as  to  the  consumption  of  cotton.    What 

9 


114  NOTES   ON   POLITICAL   ECONOMY. 

we  spin  more,  England  spins  less,  and  vice  versa, 
which  would  leave  the  great  principle  of  demand 
and  supply  exactly  on  the  same  ground  as  it  was 
on  before.  There  would  be  this  difference,  how- 
ever, that  we  spinning  one-third  or  one-half  of  the 
crop  would  create  two  markets  for  our  cotton,  two 
sets  of  bidders,  and  a  competition  that  is  always 
worth  something  to  a  market.  We  would  profit 
by  this,  and  have  already  profited  by  it :  according 
to  the  opinions  of  our  most  deserving  and  most 
skilful  commission  merchants  and  factors,  our  own 
spinners  are  now  worth  fully  two  cents  a  pound  to 
the  cotton  market  each  and  every  year,  by  the 
competition  they  create  with  the  Europeans.  Let 
this  competition  go  further,  until  all  monopolies 
cease  in  that  great  field  of  demand  and  supply,  and 
an  honest  bidding  between  the  consumers  goes  on 
regularly.  This  would  be  another  means  of  steady- 
ing the  market,  and  placing  every  thing  in  relation 
to  this  great  interest  on  a  calm  and  certain  footing. 
In  England  the  cotton  has  become  the  great  and 
absorbing  interest  of  the  nation.  When  any  thing 
happens  to  this  vital  principle  with  her,  all  be- 
comes paralyzed,  and  her  very  constitution  seems 
to  give  way.  All  her  members  sympathize  with 
the  spasms  which  this  interruption  of  the  circula- 
tion of  her  very  heart's  blood  produces.  In  the  use 
of  cotton  she  is  like  the  sot,  who,  steeped  in  liquor 
tries  to  live  without  its  stimulus  and  sinks  in  the 
attempt ;  she  must  have  it,  and  must  spin  it,  and 
must  sell  it,  and  must  live  upon  it. 


NOTES   ON  POLITICAL   ECONOMY.  115 

Pears  have  been  expressed,  that  "  should  we 
get  under  way  by  the  stimulus  of  a  protecting  ta- 
riff, we  would  not  only  pass  the  dead  point,  but  go 
ahead  beyond  our  own  consumption,  so  as  to  aim 
at  supplying  the  whole  world  with  manufactures." 
"  That  large  towns  would  spring  up  and  exhibit 
the  scenes  of  distress  that  Manchester,  Birming- 
ham, Sheffield,  and  other  places  in  England  do,  and 
create  a  miserable  population,"  which,  put  upon 
minimum  wages,  could  save  nothing,  and  be  subject, 
on  every  reverse  of  business,  to  all  possible  misery. 
This  might  be  prevented,  if  taken  in  time,  by  laying 
an  export  duty  on  all  manufactures  leaving  this 
country.  Such  arguments  cut  like  two-edged 
swords,  and  show  how  much  might  be  done  under 
a  protection.  A  cheap  clothing  would  add  very 
much  to  the  comfort  and  decency  of  the  world, 
and  stand  all  in  an  array  of  becoming  respecta- 
bility, as  to  appearance,  that  would  inspire  in  them 
self-esteem  and  a  consciousness  of  something  capa- 
ble of  taking  care  of  themselves.  In  the  savage 
state,  and  before  cotton  wrapped  mankind,  they 
suffered  for  clothing,  and  rags  indicated  poverty. 
Now  all  may  be  clothed  that  choose  to  work  one 
day  in  the  week,  and  abstain  another  day  from 
drink  and  tobacco.  What  effect  is  all  this  facility 
destined  to  have  on  man  7  It  will  teach  him  never 
to  despond '  and  sink  under  his  circumstances,  no 
matter  how  narrow  and  restricted  they  may  be. 


116  NOTES    ON   POLITICAL    ECONOMY, 


CHAPTER    XVIII. 

MANUFACTURES  WILL  HAVE  A  GOOD  EFFECT  ON  OUR 
GENERAL  PROSPERITY,  AND  EACH  BRANCH  OF  BUSINESS. 

General  Prosperity.  Let  us  now  look  a  little 
closer  into  the  effect,  that  the  encouragement  of 
manufactures  would  have  upon  the  general  pros- 
perity of  this  country,  and  upon  each  branch  of 
business  and  separate  interest  in  particular.  I 
have  clearly  shown  above  that  we  are  ripe  for 
them,  and  that  drawing  or  diverting  labor  from 
overwrought  agriculture,  commerce,  and  our  cities, 
would  do  much  good,  and  relieve  those  cases  from 
great  depression.  All  occupations  or  branches  of 
business  would  exert  more  elasticity,  and  be  the 
more  vigorous  and  healthy  for  it.  Five  hundred 
thousand  laborers  put  to  work,  with  all  the  aids  of 
machinery,  could,  according  to  estimates  well  esta- 
blished from  facts  in  England,  produce  two  hun- 
dred million  dollars  worth  of  goods :  if  we  went 
up  to  the  consumption  of  the  country  only,  less 
than  one  half  of  this  sum  would  produce  much 
wealth  and  prosperity,  and  work  wonders  upon 
this  nation.    If  we  went  beyond  the  home  supply, 


NOTES   ON   POLITICAL    ECONOMY.  117 

the  overplus  would  be  the  means  of  a  vast  barter  or 
trade  with  South  America,  the  West  Indies,  the 
Levant,  and  China.  We  would  use  the  foreign 
market  then  as  England  now  does,  that  is,  to  vent 
surplus  manufactures  upon.  Our  home  market 
would  increase  much  and  rapidly  from  the  increased 
ability  all  this  would  give,  and  the  thousand 
springs  of  industry  that  would  be  touched  by  the 
operation,  including  its  transportations,  storages, 
commissions,  agencies,  and  all  concerned  in  such 
extended  transactions.  In  a  country  of  such 
varied  interests  and  articles  of  both  art  and  agri- 
culture, if  things  did  become  overdone,  an  exten- 
sive barter  system  would  take  the  grand  rounds, 
until  a  man's  labor  might  be  turned  into  all  the 
comforts  and  elegancies  of  life,  and  through  such 
interchanges  present  a  state  without  a  further 
want.  How  different  this  from  the  log-cabin  state 
we  described  above  !  Our  market  and  prices  then 
would  become  steady,  and  to  be  calculated  in 
reference  to  any  interest.  No  vibrations,  occa- 
sioned by  wars,  short  or  abundant  crops,  and 
speculating  rage,  that,  having  their  bases  in  Eu- 
rope, in  overtradings,  and  wild  calculations,  pros- 
trate our  merchants,  drain  our  specie,  destroy 
credit,  and  suspend  our  banks.  This  state  of 
things  tends  to  drive  the  fair  and  regular  trader 
from  his  business,  and  leaves  the  field  to  the  un- 
principled and  desperate  adventurer.  If  war 
now  assails  us,  or  rages  even  in  Europe,  we  be- 
come involved.    Our  scattered  and  floating  capital, 


118  NOTES    ON   POLITICAL    ECONOMY. 

at  the  mercy  of  tyrants  and  revolutions,  may  be 
seized  or  compromited,  as  we  have  more  than 
once  seen  it,  and,  what  is  w^orse  now,  we  have  no 
home  market  to  back  upon.  We  have  seen  this 
fair  country  suffering  for  the  want  of  the  common- 
est articles  of  necessity  in  a  war,  and  forced  to  get 
them  from  the  very  enemy  we  were  fighting,  by 
illegal  licenses.  In  the  last  war  with  England,  we 
had  not  iron,  salt,  blankets,  flannels,  and  woollen 
goods  enough  for  necessity,  much  less  comfort.  A 
nation  becomes  independent  in  making  or  pro- 
ducing such  things.  We  hesitate  now  to  fight  or 
go  to  war  for  our  most  sacred  rights,  lest  we  suffer 
privations  and  discomfit.  In  place  of  all  these 
effects  and  privations,  we  would  have  a  prosperity 
that  would  in  its  tide  embrace  all  interests  by  en- 
couraging and  protecting  manufactures.  An  un- 
steady market  and  an  uncertain  state  of  things  are 
very  demoralizing  to  all  nations.  In  a  single  season 
a  people  often  lose  half  their  capital,  particularly 
the  mercantile  and  trading  portion  thereof.  Losses 
of  this  kind  run  in  a  sad  train.  Overtrading  at 
home  leaves  debts  abroad  unpaid  and  credit  ruin- 
ed, exchanges  against  us,  specie  leaving  the  vaults 
of  our  banks,  and  they,  to  sustain  themselves,  have 
to  curtail,  and  the  whole  mass  of  the  people  be- 
come then  affected.  The  commerce  of  the  coun- 
try becomes  crimped  down  to  nothing,  prices  of 
produce  and  all  values  nominal,  merchants  grow 
desperate,  conceal,  lie,  swindle,  first  their  creditors, 
then  the  government.     These  things  work  on,  un- 


NOTES   ON   POLITICAL   ECONOMY.  119 

til  the  whole  traci^,  commerce,  and  capital  of  the 
country  is  swept  off,  ana  .ji  ^^^  j^to  the  hands  of 
foreigners,  who  have  no  interest  *^  restore  things. 
This  overtrading,  which  is  generally  viie  root  of 
this  evil,  would  not  exist  if  we  were  making  our 
supplies,  instead  of  reaching  out  in  this  way  after 
them,  and  involving  all  in  speculation  and  uncer- 
tainty. Instead  of  all  this  confusion,  immorality, 
and  loss,  give  me  the  home  market  and  a  manufac- 
turing interest  to  supply  it,  and  let  me  enjoy  all  the 
prosperity  appertaining  to  it.  This  would  be  a 
general  prosperity  and  thrift,  the  accumulation  of 
wealth  and  capital,  the  increase  of  comforts  and 
elegancies,  and  even  luxuries,  and  the  reality  as 
well  as  the  feeling  of  independence. 

Agriculture,  Let  us  now  show  the  bearing  and 
influence  a  tariff  would  have  on  all  the  productions, 
all  the  staples,  all  the  occupations,  the  interests,  the 
capital,  and  character  of  the  country  and  its  citizens. 
I  will  consider,  first,  the  effect  of  a  protecting  tariff 
on  our  agriculture,  the  very  foundation  of  our  sub- 
sistence and  wealth.  When  the  agriculturists  and 
manufacturers,  the  producers  and  consumers  are 
brought  together,  it  is  better ;  much  time  is  then 
saved  in  serving  them,  and  much  capital  in  trans- 
portations. Many  of  the  small  cultures  that  make 
a  show  on  the  stalls  of  a  market,  and  contribute 
much  to  comfort  and  support,  will  not  bear  to  be 
carried  or  transported  far.  They  must  be  con- 
sumed near  the  place  where  they  are  raised.  When 
a  factory  is  situated  in  the  very  midst  of  such  small 


120  NOTES    ON   POLITICAL   ECONOMY.   _^-^ 

cultures,  a  beautiful  series  of  — »^nanges  or  barter 
goes  on,  and  the  lab^--^^  ^^^^  ^^1  these  sorts  of 
supplies  right  ''^  t'^eir  doors,  to  be  paid  for  in  their 
goods,  ^rnere  is  more  profit  in  these  small  things, 
such  as  garden  vegetables,  dairies,  chickens,  eggs, 
pigs,  lambs,  green  corn,  and  the  like ;  and  at  the 
same  time  they  are  more  healthy  and  acceptable  to 
the  operatives,  carried  fresh,  as  they  would  be,  for 
their  use.  Around  the  large  cities  and  in  other 
places  the  lands  are  in  small  lots,  and  suit  this 
sort  of  culture,  whilst  the  heavy  grain  products  lie 
further  back.  The  small  operations  in  agriculture 
take  up  the  weaker  hands,  whose  labor  in  such 
things  is  as  productive  as  stronger  labor  on  the 
grain  and  pork  farms.  We  see  in  New  England, 
where  many  manufacturing  establishments  are  in 
successful  operation,  the  stimulating  effects  thereof 
upon  agriculture.  The  fields  are  brushed  up  and 
manured,  cleared  of  stones  and  briers,  and  in  a  state 
of  high  productiveness,  exactly  in  proportion  as 
they  are  nearer  to  or  farther  from  some  manufac- 
turing village  or  consuming  population,  or  a  people 
able  to  purchase  them.  In  other  parts  of  that 
country,  where  there  is  no  water-power  or  facili- 
ties to  induce  such  establishments,  we  see  agricul- 
ture neglected  ;  the  farms  look  exhausted,  and  the 
fences  and  improvements  dilapidating,  the  stones, 
briers,  and  jungle  prevail,  except  in  some  corner 
naturally  fertile,  where  the  owner  cultivates  a  little 
for  his  own  use.  You  may  tell,  therefore,  by  the 
state  of  the  agriculture,  when  you  approach  or  re- 


NOTES    ON   POLITICAL   ECONOMY.  121 

cede  from  these  manufacturing  points.     When  re- 
mote, the  husbandmen  are  off,  trading  on  their  wits, 
or  fishing  to  gain  a  little  money,  which  a  neglected 
farm  denies  to  them.    A  population  consumes,  even 
of  provisions,  according  to  its  ability ;  if  poor  and 
without  money  to  purchase,  or  valuable  products  to 
barter,  they  crimp,  and  pinch,  and  live  in  a  hand- 
and-mouth  way,  upon  inconceivably  little,  a  mere 
pittance,  that  is  an  object  with  none  to  supply,  and 
which  stimulates  nothing.   The  agriculture  of  Eng- 
land shows  us  what  a  home  market  can  effect. 
That  country,  whose  soil  by  nature  is  poor  and  moist, 
fit  only  for  grass,  and  becomes  a  grain  country  only 
by  intense  manuring,  and  such  efforts  to  counteract 
its  moisture  and  cold  character,  is  now  a  garden.    It 
is  the  most  substantially  cultivated  country  in  the 
world,  taken  in  connection  with  the  neatness,  style, 
comfort,  and  independence  of  the  inhabitants.  The 
home  market  is  the  magic  that  accomplished  all 
this.     The  certainty,  steadiness,  and  high  prices  of 
the  home  supply,  have  converted  a  cold,  moist,  in- 
clement soil  into  a  garden,  the  pride  of  their  coun- 
try ;   shining  as  it  does  with  its  neat  cottages,  tow- 
ering spires,  and  meeting  the  eye  every  where  with 
its  substantial  wealth  and  lordly  comfort.     I  do 
not  say  that  it  is  right  to  build  up  a  home  market 
at  such  a  sacrifice  as  the  corn  laws  have  created 
for  them.     Our  agriculture,  with  our  soil  and  cli- 
mate, would  flourish  under  a  hundredth  part  of  the 
impulse  she  gave  to  hers,  and  we  could  grow  rich 
on  one-fourth  of  the  prices  paid  there — we  could 


122  NOTES   ON   POLITICAL   ECONOMY. 

give  to  ours  all  possible  extent  and  productiveness, 
without  taxing  any  other  business ;  without  the 
curses  of  the  impoverished  operatives ;  indeed,  it 
would  follow  and  obey  all  the  movements,  and  be 
affected  by  all  the  operations  of  manufactures,  and 
be  sufficiently  stimulated  by  their  prosperity.  With- 
out the  aid  of  a  home  market  our  agriculture  would 
be  the  semi-barbarous,  log-cabin  state  described 
above,  without  pride,  style,  or  taste,  and  an  entire 
stranger  to  wealth  and  the  higher  enjoyments. 
This  would  shut  in  all  the  prospects  of  industry ; 
beyond  there  would  be  no  hopes,  no  aspirations,  but 
a  fixed  state  of  semi-barbarism  to  the  Americans ; 
what  the  tent  is  to  the  Tartar,  or  the  wigwam  to 
the  Indian,  in  which  whole  generations  grow  up, 
without  refinement  or  taste,  and  what  is  worse, 
without  any  advance  in  the  great  march  of  civiliza- 
tion. For  all  which  they  substitute  fighting,  and 
drinking,  and  gambling,  and  hunting.  As  soon  as 
you  give  to  agriculture  a  market,  they  become 
proud,  generous,  refined,  and  hospitable.  Having 
the  means,  they  become  educated,  and  throw 
around  their  houses  and  gardens  decorations  and 
shrubbery,  get  fine  furniture,  and  live  in  social  re- 
finement. Such  agriculturists  have  the  information 
to  make  them  valuable  to  their  country,  the  pride  to 
have  their  rights  respected,  and  really  become  the 
substantial  yeomanry  of  which  we  have  heard  so 
much.  Manufactures,  therefore,  are  invaluable  to 
agriculture,  by  furnishing  this  home  market,  by 
stimulating  and  ensuring  to  them  fair  prices  for 


NOTES   ON   POLITICAL   ECONOMY.  123 

their  products,  particularly  provisions,  and  insti- 
tuting that  beautiful  system  of  mutual  dependence 
and  supply,  that  takes  up  all  the  productions,  how- 
ever varied,  and  all  the  goods  fabricated.     There  is 
nothing  so  pleasing,  varied,  and  enriching  as  this 
barter ;  nothing  so  certain  in  its  operation,  so  com- 
fortable in  its  consequences,  and  so  sure  in  its  re- 
sults.   The  flour  trade,  one  of  the  heaviest,  most 
bulky,  and  valuable,  is  already  vastly  stimulated 
by  our  manufactories,  as  few  as  they  are.    We  sell 
now  more  than  twice  as  much  flour  to  them  as  we 
export,  not  less  than  one  million  barrels;   corn, 
pork,  beef,  bacon,  potatoes,  and  fish,  in  the  same 
proportions.     The  best  estimates  taken  from  our 
census,  and  from  such  facts  as  the  large  and  con- 
centrated establishments  of  that  kind  furnish,  show 
us  that  our  agriculturists  sell  of  heavy,  bulky  pro- 
ducts, such  as  flour,  corn,  pork,  beef,  rye,  buck- 
wheat, oats,  barley,  rice,  fish,  potatoes,  and  butter, 
cheese,  fowls,  and  all  the  small  cultures,  not  less 
than  twenty  million  dollars  worth  to  our  manufac- 
tories.    This  estimate  is  no  doubt  far  under  the 
mark,  if  we  include  the  thousands  of  interchanges 
that  each  settlement  carries  on  that  cannot  be  no- 
ticed, such  as  the  thousands  of  smiths,  shoemakers, 
tailors,  wagon-makers,  gunsmiths,  and  the  like,  that 
are  scattered  through  each  and  every  settlement. 

Cotton.  Let  us  now  see  how  the  great  staples 
would  be  affected  by  the  establishing  of  manufac- 
tories. The  portion  of  them  that  constitute  raw 
materials  are  of  course  favorably  affected,  and  im- 


124  NOTES   ON   POLITICAL    ECONOMY. 

mediately  allied  with,  or  entering  into,  the  operation 
on  reciprocal  principles.  We  will  begin  with  cotton. 
After  the  full  history  and  account  that  we  have  en- 
tered into  in  reference  to  the  growth,  production, 
and  price  of  this  great  staple,  we  need  say  but  lit- 
tle. It  is  the  great  interest  of  this  country  emphat- 
ically, and  worth  all  the  others.  It  is  the  resource 
of  the  whole  country,  fills  our  coffers,  employs  our 
ships,  takes  up  our  capital,  and  furnishes  one-half 
of  the  whole  ability  that  we  have,  or  that  we  wield 
abroad,  and  enables  us  to  buy  what  we  ought  to 
make  at  home.  This  staple  has  perhaps  done  harm 
in  this  respect ;  for,  if  we  had  it  not  all  the  time, 
we  could  not  have  continued  to  buy  so  much  from 
Europe,  and  would  long  ere  this  have  made  at  home 
all  we  needed.  Nothing  will  be  more  benefited, 
however,  by  manufactories,  than  this  great  staple. 
It  will  then  have  a  home  market ;  and,  as  we  said 
before,  there  will  be  a  competition  that  will  benefit 
the  growers  of  it.  As  a  raw  material,  its  very  life 
and  soul  is  consumption.  The  interchanges  it  will 
lead  to,  the  numerous  agents  necessary  to  buy  and 
forward  this  bulky  article,  the  vast  amount  of  ton- 
nage necessary  to  convey  it  to  the  places  where  it  is 
wanted,  the  diffusion  of  the  goods  made  to  the  in- 
terior, through  our  railroads  and  canals,  all  together 
give  to  it  a  consequence  that  no  other  staple  pro- 
duction possesses.  It  would  be  hard  to  calculate 
the  thousands  of  interests  affected,  the  thousands  of 
springs  of  industry  it  will  touch  and  stimulate,  and 
the  thousands  of  persons  to  whom  it  will  not  only 


NOTES    ON   POLITICAL   ECONOMY.  125 

give  employment,  but  enrich.  The  general  effect, 
too,  on  the  whole  nation,  its  resources  and  inde- 
pendence, politically  speaking,  will  be  great.  There 
is  no  interest  that  ought  to  hail  the  establishment 
of  manufactures  louder  than  this,  both  in  reference 
to  its  supplies  and  markets ;  yet  nearly  all  the 
growers  of  this  great  staple  are  extremely  hostile 
to  manufactures.  It  is  discouraging  to  a  patriot 
and  a  political  economist  to  see  this  hostility  from 
so  enlightened  a  source ;  to  see  thatjprejudices  and 
party  do  carry  on  blindly  a  whole  people  to  the 
most  suicidal  acts,  without  giving  them  time  to 
think  and  calculate  their  own  interests.  The 
shelves  of  every  merchant  would  convince  them,  if 
they  would  look,  that  all  their  supplies  are  already 
cheaper,  and  better  in  quality,  and  better  fitted  for 
their  purposes,  than  they  were  formerly ;  and  this 
brought  about  by  a  partial  or  very  imperfect  carry- 
ing on  of  manufactures.  Their  own  factors  tell 
them  that  the  American  spinners,  by  their  compe- 
tition, are  worth  annually  two  cents  to  the  cotton 
market.  Reason,  too,  tells  us  that  a  great  deal 
more  cotton  is  used  now  by  the  circumstance  of 
the  Americans  making  coarse  goods,  weighing  hea- 
vier, and  out  of  our  own  cotton,  than  would  be  if 
we  got  those  things  from  England,  because  she 
would  make  them  much  lighter  and  out  of  the 
worthless  Surats.  Our  taking  the  coarse  goods 
market  from  England  will  banish  altogether  these 
Surats,  because  they  will  not  do  for  fine  goods  such 
as  then  would  be  left  to  England  to  make. 


126       NOTES  ON  POLITICAL  ECONOMY. 

Every  point  of  view  in  which  an  inquiring  mind 
would  look  at  this  subject,  would  lead  to  the  con- 
viction that  the  cotton  culture  would  be  more  ben- 
efited by  a  tariff  than  any  other.  It  would  derive 
some  benefit  in  having  the  agriculture  taken  up  in 
provisions,  leaving  it  less  overdone,  or  somewhat 
unclogged,  by  having  a  part  of  those  engaged 
drawn  off,  and  leaving  room  to  the  slaves  residing 
in  those  districts  to  remain  there,  instead  of  moving 
south  to  clog  the  cotton  culture.  When  a  people, 
however,  take  a  set  on  party  feeling,  nothing  can 
convince  them  ;  and  so  prejudiced  are  their  minds, 
that  when  benefits  do  flow  in  to  them,  they  ascribe 
them  to  a  wrong  cause.  They  charge  the  low 
prices,  which  are  literally  the  effect  of  a  clogged  or 
overloaded  market  in  regard  to  cotton,  to  tariff  op- 
erations. Nothing  has  led  me  so  much  to  despair 
of  this  country  and  its  institutions,  as  the  want  of 
thought  and  the  right  understanding  of  their  inter- 
ests that  these  otherwise  enlightened  and  indepen- 
dent cotton  growers  have  manifested,  and  their 
disposition,  in  the  most  reckless  way,  to  throw  all 
to  the  four  winds,  and  their  own  interests  among 
them.  Manufactures  cannot  fail  to  benefit  all  raw 
materials.  An  increased  consumption  of  cotton  in 
any  part  of  the  globe,  in  the  present  free  and  en- 
terprising intercourse,  will  be  useful,  because  mar- 
kets find  their  level ;  and  let  a  vacuum  or  demand 
be  created  in  any  quarter  of  the  globe,  the  article 
would  rush  in  to  fill  it. 

Tobacco.    Tobacco,  as  an  article  of  luxury, 


NOTES   ON   POLITICAL   ECONOMY.  127 

which  it  is,  would  be  benefited  by  the  establish- 
ment of  manufactures.  In  a  condensed  population 
and  a  social  state,  snuffing  and  smoking  particular- 
ly would  be  greatly  promoted.  Tobacco  being  an 
article  of  luxury,  its  use  can  be  dispensed  with 
whenever  the  circumstances  or  funds  of  the  indi- 
viduals are  limited.  Manufactures  would  give  to 
thousands  the  ability  to  enjoy  this  raw  material, 
and  its  consumption  would  be  much  increased* 
As  a  raw  material,  however,  it  enters  into  sundry 
manufactures  of  its  own,  such  as  the  stemming  of  it, 
chewing  tobacco,  snufF,  segars,  and  so  forth,  em- 
ploying many  hands.  This  staple  culture  takes  up 
most  of  the  slaves  of  Virginia,  Maryland,  Kentucky, 
and  Missouri,  and  would  be  as  much  relieved  as 
any  other  staple  by  drawing  off  any  labor  from  it, 
or  diverting  still  more  from  entering  it.  It  is  an 
overdone  and  clogged  market  now,  and  should  join 
in  the  establishment  of  manufactures  in  order  to 
free  it,  secure  to  it  a  living  profit,  and  some  in- 
creased consumption.  Europe  encourages  our  to- 
bacco staple,  by  prohibiting  their  own  people  its 
culture,  with  a  view  to  levy  a  tax  on  its  introduc- 
tion. Strange  to  say,  this  staple  is  worth  to  the 
exchequers  of  England,  France,  and  Germany, 
thirty  million  pounds  a  year,  a  sum  that  would  buy, 
twice  over,  the  whole  body  of  it  here  where  grown. 
Any  revolution  that  would  disturb  the  monopolies 
in  Europe  of  this  article,  and  allow  it  to  be  culti- 
vated there,  (for  all  these  countries  favor  its  growth,) 


128  NOTES    ON   POLITICAL    ECONOMY. 

would  prostrate  the  whole  interest  here,  and  al- 
most wipe  it  away  as  a  staple. 

Rice,  Rice,  as  a  staple,  will  be  favorably  affect- 
ed by  manufactures.  It  is  considered  by  the  la- 
boring population  in  Europe  and  America  as  an 
article  of  luxury,  but  in  the  East  as  an  article  of 
necessity,  and  the  cheapest  of  all  food.  Taking  it 
in  its  character  of  a  luxury,  the  consumption  will 
increase  with  the  ability  to  buy  it,  and  with  the 
elegance  that  a  people  wish  to  give  to  their  diet, 
and  much  more  of  it,  therefore,  will  be  used  in  the 
manufacturing  districts.  The  price  of  it  is  as 
low  as  that  of  any  grain,  and  at  the  same  time 
more  variety  given  to  it  in  the  routine  of  cookery. 
It  is  also  a  healthy  food,  and  wherever  it  appears, 
rather  indicates  a  style  of  living  above  the  ordinary 
vulgar  one  that  runs  with  laboring  people.  There 
might  be  a  beautiful  barter  instituted  between  the 
Carolinas  and  Georgia,  that  grow  rice,  and  New 
England,  that  manufactures,  and  that  might  be  led 
to  consume  largely  of  it.  Many  of  the  flour  dis- 
tricts that  furnish  our  manufacturers  with  that  ar- 
ticle, such  as  the  Genesee  country,  in  New- York, 
are  so  much  taken  up  themselves  with  manufac- 
tures, that  they  want  very  little  of  that  sort  of 
things,  and  have  to  be  paid  in  specie  for  their  flour. 
That  never  could  happen  between  the  manufactur- 
ers and  the  rice  planters ;  the  latter  would  want 
all  the  time  for  their  rice,  domestic  goods ;  and  the 
mutual  principle  of  barter  would  be  permanently 


NOTES    ON   POLITICAL    ECONOMY.  129 

established  between  them,  to  the  benefit  of  both. 
If  the  manufacturers  could  get  into  the  habit  of 
eating  boiled  rice  in  place  of  bread  with  all  their 
meals,  the  consumption  of  rice  would  increase 
much,  and  a  better  food  in  the  bread  way,  as  well 
as  a  cheaper  one,  be  established.  When  the  habit 
of  taking  boiled  rice  with  meat,  and  butter,  and 
milk  is  formed,  it  is  never  changed,  and  they  be- 
come fonder  of  it,  than  of  either  corn  or  wheat 
bread.  Rice  costing  two  cents  a  pound  is  cheaper 
than  corn  meal  at  eighty  cents  a  bushel,  or  flour  at 
four  dollars  a  barrel;  is  easier  transported  and 
handled,  and  every  way  easier  prepared  in  cookery. 
I  think  those  who  are  concerned  in  feeding  opera- 
tives and  laborers,  would  find  their  account  in  every 
way,  in  introducing  its  use.  Whatever  is  cheapest 
and  best,  is  almost  sure  to  be  found  out  by  our 
enterprising  people,  and  I  may  take  it  for  granted 
that  the  staple  of  rice  is  destined  to  be  still  more 
benefited  by  the  introduction  of  manufactures. 

Hemp  and  Flax.  Hemp  and  Flax  are  raw 
materials,  and  destined  to  be  greatly  benefited  by 
the  introduction  of  manufactures.  Already  the 
hemp  interest  is  far  advanced,  for  we  make  nearly 
all  our  cotton  bagging,  amounting,  for  three  million 
bales,  to  eighteen  million  yards,  and  all  the  cord- 
age or  rope  to  bind  them,  out  of  our  own  hemp. 
We  are  now  aiming  to  supply  our  navy  and  marine 
with  hemp  and  every  thing  hempen,  and  all  the 
rope  used  for  a  thousand  purposes,  in  agriculture, 

10 


130  NOTES    ON   POLITICAL    ECONOMY. 

commerce,  and  manufactures.     Hemp  is  about  to 
be  exported  as  a  raw  material,  and,  at  three  to  four 
dollars  a  hundred,  can  be  taken  to  Europe  and  sold 
alongside   of  the   Russian   in   all   their   markets. 
Kentucky  and  Missouri,  supposing  its  culture  con- 
fined to  slavery  and  rich  land,  can  furnish  any 
amount  wanted.     As  the  prices  of  tobacco  and  pro- 
visions go  down,  or  become  dull  and  uncertain,  will 
those  states  go  to  hemp  as  a  resource,  or  rather  an 
alternative  for  slave  labor.     They  will  thus  vary 
their  production,  and  find  their  account  in  it.     I 
have  known  districts  grow  rich  by  having  two  or 
three  staple  productions  to  lean  upon,  and  always 
hitting  a  good  market  with  one  or  another  of  them. 
Hemp  is  a  very  exhausting  crop,  and  unless  the  soil 
be  of  the  deepest  limestone  fertility,  naturally, 
will  not  endure  its  culture  long.     The  soil  in  the 
two  states  of  Kentucky  and  Missouri  is  literally  in- 
exhaustible, and  can  stand  the  hemp  and  tobacco 
culture  all  the  time.     Those  states  too  are  deeply 
imbued  with  slavery,  and  under  a  treatment  in  re- 
gard to  them,  that  will  insure  a  vast  increase  of 
that  sort  of  labor.     The  hemp  crop,  therefore,  be- 
ing furnished  both  with  a  soil  and  suitable  labor, 
and  stimulated,  in  addition,  by  the  wants  of  manu- 
facturers, who  will  pay  for  it  in  a  sort  of  goods  that 
will  be  wanted  in  those  states,  will  insure  it  a  val- 
uable product  to  them,  and  a  great  resource  to  the 
country.     The  flax  can  be  produced  in  any  part  of 
the  United  States,  and  by  either  slave  or  free  labor. 


NOTES   ON   POLITICAL   ECONOMY.  131 

When  the  article  is  wanted,  either  as  a  valuable 
export  or  raw  material,  it  can  be  furnished  in  any 
quantity. 

If  a  protecting  tariff  should  insure  the  making 
of  linen  up  to  the  consumption  of  this  country,  and 
all  things  made  of  flax,  it  w^ould  stimulate  its  cul- 
ture, and  render  it  quite  a  staple  production ;  not 
only  to  supply  a  valuable  raw  material,  but  for  ex- 
port. Several  raw  staples  have  not  in  this  country 
become  much  cultivated,  until  some  manufacture 
started  up  that  required  them.  Then  the  country 
is  put  upon  its  resources,  and  gives  such  attention 
to  them,  as  to  bring  them  rapidly  into  notice.  This 
has  been  the  case  with  hemp,  and  will  with  flax, 
when  we  shall  have  advanced  a  few  steps  further. 
When  wanted  for  consumption  at  home,  the  supply 
is  sure  to  go  beyond  the  wants  of  the  manufac- 
turers, and  become  an  article  for  export.  An  inven- 
tion is  now  in  successful  operation  that  cards  the 
flax  and  cotton  together,  and  makes  a  very  pleasant 
sort  of  goods,  which  will  be  extensively  used  for 
summer,  because  both  lighter  and  cooler  than  cot- 
ton goods.  In  the  present  populous  nature  of  Ire- 
land, a  state  where  all  its  soil  will  be  wanted  for 
provisions,  she  will  not  be  able  to  grow  raw  mate- 
rials— will  procure  raw  flax  in  this  country,  and 
save  the  soil  necessary  to  grow  it  on.  The  fact 
that  she  cannot  spare  soil  enough  to  ripen  her  seed 
upon,  is  a  proof  that  she  would  not  spare  soil  to  it 
at  all,  if  she  could  get  her  supply  elsewhere ;  for 
flax  that  matures  its  seed,  does  not  make  a  fine, 


132  NOTES    ON   POLITICAL   ECONOMY. 

soft,  white  goods  ;  it  has  to  be  cut  green,  or  unripe, 
to  have  the  lint  very  fine  ;  and  hence  their  habit  of 
procuring  the  seed  from  this  country.  A  fortiori 
we  could  make  still  more  profit  by  preparing  the 
lint  than  the  seed,  and  will  do  it  when  any  thing 
at  home  stimulates  its  production. 

Silk,  Silk  is  going  to  be  produced  in  this  coun- 
try in  vast  amount  and  of  a  good  quality.  The 
experiments  already  made  go  to  show  that  the  cli- 
mate, from  New  England  to  Louisiana,  is  suited  to 
the  growth  of  both  the  worms  and  the  tree  that 
they  feed  upon.  We  are  already  under  way,  and 
we  will  make  this  year  half  a  million  pounds  of 
raw  silk,  and  manufacture  it  all  into  sewing*silk 
and  clothing.  Several  states  have,  in  their  indivi- 
dual capacity,  offered  bounties  for  the  production 
of  raw  silk,  and  it  may  now  be  regarded  as  a  cer- 
tain great  staple  culture  of  this  wide  region  ;  and 
not  only  furnishing  raw  material  enough  for  the 
goods  that  we  consume,  but  a  vast  raw  staple  for 
export.  We  have  extra  labor  enough  to  grow  all 
the  silk  that  England  and  the  north  of  Europe 
need,  cheaper,  and  of  a  better  quality  than  Italy 
and  France  can  furnish.  The  sort  of  labor  that 
we  are  putting  to  the  silk  culture,  consists  of  wo- 
men and  children,  such  as  will  not  be  missed  from 
our  agricultural  operations.  Experience  supports 
this  sort  of  a  calculation,  in  reference  to  the  silk 
culture;  two  acres  of  land  are  enough  to  grow 
trees  upon,  necessary  to  feed  with  certainty  and 
ease  worms  enough  to  produce  fifty  pounds  of  raw 


NOTES   ON   POLITICAL    ECONOMY.  133 

silk  in  the  hank ;  and  six  weeks  the  time  necessary 
to  feed  the  worms  that  make  it.  The  wife  of  a 
peasant  or  farmer  and  the  children  make  the  silk 
— the  emolument  is  theirs ;  they  stop  their  school 
for  the  six  weeks  only,  the  feeding  time,  and  none 
of  the  operations  of  the  farm  are  interfered  with 
by  the  operation,  nor  of  their  schooling.  The  wife 
and  children  make  from  three  to  five  hundred  dol- 
lars a  year,  which  is  a  resource  for  books,  fine 
things,  and  pin  money,  and  gives  a  sort  of  indepen- 
dence very  gratifying  to  them.  This  thing  is  proved 
in  the  above  way,  and  is  sure  to  work  up  into 
a  vast  raw  staple,  both  for  manufacturing  purposes 
at  home,  and  a  large  export  abroad.  Say  that  half 
a  million  families  make  their  fifty  pounds  seach,  it 
amounts  to  twenty-five  million  pounds  ;  an  amount 
more  than  England  manufactures,  with  all  her 
preparation  and  effort.  If  we  should  by  a  protect- 
ing tariff  stimulate  this  thing,  it  would  go  imme- 
diately up  to  this  point — is  sure  to  go  ahead  after 
the  experiments  already  made,  and  is  sure  to  be  a 
vast  resource  to  this  country.  If  this  nation  could 
see  the  great,  and  rich,  and  elegant  resource  it  has 
in  both  the  cultivation  and  manufacturing  of  silk, 
she  would  immediately  engage  in  both.  Looking 
forward  to  what  a  few  years  will  produce,  a  very 
pleasing  picture  presents  itself  to  our  view ;  that 
gives  the  certainty  of  one  of  the  richest,  most  valu- 
able, and  elegant  staples  in  the  world.  Here,  too, 
were  it  necessary,  slave  labor  could  be  well  em- 
ployed, and  fill  up  any  vacuum  that  [might  occur 


134  NOTES   ON   POLITICAL    ECONOMY. 

in  it,  or  be  felt  in  relation  to  its  labor.  Such  a  field 
cannot  remain  uncultivated,  and  it  will  be  seen 
whether  our  Congress  will  have  the  foresight  and 
the  sound  policy  to  insure  the  double  shape  of 
wealth  that  is  ready  to  flow  from  it,  the  wrought 
and  raw  value  both.  When  a  nation  engages  in  the 
cultivation  and  making  of  silk  goods,  it  is  indicative 
of  a  state  of  refinement  in  the  taste,  and  an  advance- 
ment in  the  civilization  of  its  people,  and  connects 
it  with  all  the  luxuries  and  elegancies  of  life. 

Labor.  The  labor  of  the  country  of  course, 
above  all  other  things  and  resources,  will  be  bene- 
fited by  a  protecting  tariff.  This  is  the  creative 
genius  that  it  calls  into  existence,  and  with  which 
it  works  the  wonders  and  magic  that  astonish  and 
enrich.  Something  comes  so  nearly  out  of  nothing 
under  the  operations  of  labor  and  industry,  that  we 
ought  to  look  upon  them  not  only  with  favor  and 
protection,  but  with  a  sort  of  grateful  feeling,  as 
our  very  life's  blood.  It  not  only  costs  a  people 
nothing  to  labor  and  produce,  but  is  a  pleasure,  and 
a  sure  guaranty  for  not  only  the  wealth  created, 
but  order  and  morality,  and  we  may  add  health. 
Labor  is  the  foundation  of  all  wealth  and  all  capi- 
tal, and  the  only  inherent  available  resource  that 
appertains  to  man.  What  avails  a  rich  soil  and  a 
fine  climate,  and  fuel,  and  animals,  if  there  be  no 
labor  to  develope  them  ?  no  skill  to  fashion  or  mould 
them  into  useful  forms  ?  Labor  makes  the  capital 
and  wealth,  and  capital  doubles  back  upon  labor, 
its  creator,  and  gives  to  it  still  more  eflSciency  and 


NOTES   ON   POLITICAL   ECONOMY.  135 

productiveness  by  preparations  in  machinery  and 
power.     The  capital  issuing  or  springing  from  la- 
bor, is  not  the  ungrateful  offspring ;  it  continually 
lends  its  aid,  purchases  protections,  and  secures 
new  markets  to  productions.     The  ratio  existing 
between  labor  and  capital  becomes  geometrical  in 
its  operations,  and  by  this  kind  of  reciprocal  action 
they  go  on  to  an  almost  unlimited  existence.  Hence, 
when  a  w^ise  or  fortunate  nation  gets  the  start  of 
all  others  in  the  great  operations  of  manufactures, 
commerce,  and  even  in  agriculture,  it  keeps  it ;  and 
not  only  keeps  it,  but  gives  to  these  great  branches 
of  national  prosperity  a  force,  a  skill,  and  excel- 
lence, that  puts  the  world  in  requisition.     In  such  a 
case  it  becomes  doubly  necessary  to  secure  the 
home  market  by  ample  protection  to  the  countries 
that  are  behind,  and  in  a  manner  subject  to  the 
superior  start  and  action   of  that  fortunate  one. 
Nothing  but  protection  will  then  break  the  spell,  or 
rather  the  chains  that  hold  the  one  thus  outstrip- 
ped, to  its   subjugator.     It  is  through  this  home 
market  protection,  that  it  walks  forth  to  indepen- 
dence first,  and  afterwards  to  w^ealth,  and  ceases  to 
be  the  paralyzed  customer  of  its  more  active  neigh- 
bor.    The  first  duty,  therefore,  of  all  good  govern- 
ment, is  to  look  to  its  labor ;  insure  it  not  only  full 
occupation,  but  the  greatest  productiveness.     Poli- 
tical economy  abhors  idleness  worse,  if  possible, 
than  nature  does  a  vacuum.     It  is  worse  than  a 
vacuum,  because  gravity  rushes  forth  to  fill  the  va- 
cuum ;  but  idleness  is  a  grave  where  lies  dead  and 


136  NOTES    ON   POLITICAL    ECONOMY. 

buried  the  creative  genius  of  man,  the  means  given 
to  him  by  the  God  of  Nature  to  improve  his  condi- 
tion. Most  legislators,  particularly  in  this  country, 
have  the  cart  before  the  horse.  They  inquire, 
where  are  our  markets  7  where  can  we  trade  7  in- 
stead of  first  looking  to  and  stimulating  labor,  to 
produce  or  make  something  for  those  markets. 
They  often  build  ships,  or  encourage  the  building  of 
ships,  as  we  did  after  our  independence,  before  they 
have  any  thing  to  carry  in  them  ;  and  parade  their 
ships,  begging  to  carry  for  all  the  world.  All  the 
world,  when  wars  created  difficulties,  employed  our 
tonnage  for  a  short  time,  but  soon  found  it  better  to 
employ  their  own,  and  ours  became  useless.  We 
built  towns  and  ships  before  we  had  much  trade, 
and  imported  slaves  that  now  embarrass  and  de- 
grade us,  instead  of  stimulating  to  the  best  advan- 
tage the  native  labor  of  our  people.  The  first 
great  questions  for  a  politician  are  as  to  the  quan- 
tity of  labor ;  its  productiveness  ;  whether  it  be 
employed  to  the  best^  advantage ;  or  whether  it 
could  not  be  better  engaged  in  other  fields  ; 
whether  it  needs  stimulus  to  give  to  it  more  effect ; 
whether  it  has  its  market  or  demand  secure  and 
fixed  ;  and  whether  even  bounties  would  not  draw 
it  forth  to  higher  efforts  and  greater  excellence. 
First  of  all,  he  should  inquire  whether  there  were 
any  idle  or  unemployed  persons  in  the  wide  land ; 
and  what  would  turn  them  in  too  ?  Every  hand 
wakened  up  from  idleness,  and  very  likely  vice,  is 
a  clear  gain  to  the  country.     That  farmer  that 


NOTES    ON    POLITICAL    ECONOMY.  137 

makes  one  other  spear  of  grass  to  grow,  rears  one 
other  animal,  makes  one  yard  of  goods,  one  pound  of 
iron,  salt,  or  any  other  thing  or  production  more,  is 
a  benefactor  to  his  country  ;  and  the  politician  that 
calls  it  forth,  deserves  the  thanks  and  support  of 
that  country.  That  politician  who  unclogs  any 
branch  of  overdone  business,  draws  labor  from  it 
to  others  more  productive,  and  secures  the  proper 
markets  to  all  new  products  or  operations,  deserves 
double  gratitude  from  the  whole  country.  Why, 
then,  are  our  politicians  and  statesmen  so  very  much 
afraid  of  touching  this  point  of  all  legitimate  issue; 
this  foundation  of  all  wealth  and  capital,  labor? 
Why  leave  it  to  chances,  whilst  so  much  care  is 
manifested  for  free  trade  1  It  would  appear  to  one 
dropped  from  another  world,  unacquainted  with  all 
our  interests  and  resources,  that  our  whole  Con- 
gress or  national  legislature  were  taken  or  subsi- 
dized by  Europe  to  favor  all  their  productions  or 
operations  exclusively  ;  even  to  the  total  disregard- 
ing of  those  of  this  country.  It  would  seem  to" 
such  that  Great  Britain  sat  enthroned  in  all  our 
legislative  halls  and  dictated  all  their  enactments 
regulating  industry  and  a  tariff;  and  if  told  other- 
wise, could  not  be  made  to  believe  that  some  laws 
and  most  important  regulations  were  not  the  results 
of  bribes  on  the  body  politic  by  the  superior  wealth 
and  foresight  of  older  and  wiser  nations.  Every 
idle  finger  will  be  pointed  some  day  against  those 
short-sighted  and  unpatriotic  legislators,  who  left 
it  in  sloth,  and  to  vice,  and  mischief,  instead  of 


138  NOTES    ON   POLITICAL    ECONOMY. 

stimulating  it  to  proper  action  and  usefulness.  It 
seems  that  our  representatives  go  to  Congress  to 
quarrel  about  the  scant  imposts,  and  worthless  offi- 
ces and  salaries  that  are  afloat,  to  judge  by  their 
eagerness  and  graspings  for  them,  without  any  re- 
ference to  the  good  of  the  whole,  or  to  the  regula- 
tion and  direction  of  the  labor  of  the  country.  If 
they  could  see  and  realize  the  millions  of  unborn 
capital,  and  the  wealth,  and  comfort,  and  elegance, 
and  taste,  that  the  idle  labor  now  in  this  country 
could,  if  really  awakened  and  rightly  directed, 
produce,  they  would  be  astonished,  and  not  fail  to 
do  it  as  a  bounden  and  sacred  duty.  A  politician, 
to  be  able  to  do  his  duty  in  a  way  to  redound  to  the 
advantage  of  his  country,  must  study  the  resources 
of  that  country,  instead  of  tricks  of  demagogues. 
He  must  obey  the  impulse  of  her  wants,  rather  than 
party  trainings.  He  must  be  unprejudiced  in  his 
mind,  and  not  forestalled  in  his  principles.  He 
should  be  open  to  convictions,  and  a  seeker  after 
'truth,  facts,  and  results,  and  should  be  ready  to  seize 
upon  all  circumstances  as  they  arise,  that  might  fa- 
vor the  labor  and  resources  of  the  nation  to  which 
he  belongs. 

Capital.  Capital  will,  as  a  matter  of  course,  be 
taken  up,  and  in  a  permanently  profitable  way,  by 
the  introduction  of  manufactures.     It  will  be  A^ant- 

ed  directly  for  the  outfit  of  machinery,  and  prepa- 
rations necessary  to  put  in  requisition  the  idle  labor 
of  the  country.     That  labor  would  not  only  divide 

nterest  for  the  capitalists,  but  a  profit  and  support 


NOTES    ON   POLITICAL    ECONOMY.  139 

for  itself.  Capital  when  not  permanently  invested, 
merely  seeking  interest  annually,  is  almost  sure  to 
do  more  harm  than  good,  because  those  branches 
most  depressed  and  in  debt,  are  the  first  to  come 
forward  to  take  offered  loans,  to  pay  their  old  debts, 
under  a  hope  their  business  will  revive  so  as  to 
justify  the  transaction.  Alas!  soon  they  become 
convinced  that  the  capitalist  will  absorb  all  and 
end  in  a  break  up  for  both.  The  indebted  turns 
over  his  stock  and  substance  to  the  loaner,  who  sees 
when  too  late  that  the  stock  turned  over  or  closed 
upon,  will  be  dead  capital,  and  never  reimburse  the 
loan.  Now  that  agriculture  is  so  much  overdone 
in  all  its  varied  productions,  and  all  the  stocks  of 
the  numerous  banks  too  high  and  unsafe  for  certain 
investment,  including  those  of  the  state  loans,  the 
capitalists  are  very  desirous  of  some  safe  and  per- 
manent object  on  which  to  employ  their  money. 
This,  therefore,  is  the  proper  moment  for  the  adop- 
tion of  a  protecting  tariff,  to  give  employment  to 
this  capital,  and  induce  it  into  channels  that  would 
not  only  promise  a  profit  to  it,  but  the  develope- 
ment  of  national  resources.  A  country  must  feel 
more  content  with  its  capitalists,  when  it  sees  them 
so  completely  identified  with  its  labor,  resources, 
and  raw  materials,  and  feel  some  guaranty  that  it 
is  working  good.  It  is  the  part  of  a  wise  and  pa- 
triotic statesman  to  so  arrange  the  capital  of  his 
country,  that  it  is  sure  to  rise  or  fall  with  the  coun- 
try, so  as  to  make  it  the  interest  of  the  owners  that 
the  country  should  be  steady,  orderly,  and  undis- 


140  NOTES   ON   POLITICAL    ECONOMY. 

turbed  by  changes  of  any  sort.  Capitalists  then 
stand  upon  the  watchtowers,  the  great  policies  of 
the  nation,  and  guard  its  best  and  most  substantial 
interests,  by  giving  early  notice  of  any  deteriora- 
tion in  the  markets,  any  hazards  that  threaten,  or 
any  injurious  operation  of  laws  or  regulations  that 
need  change  or  alteration. 

When  the  capitalists  who  control  the  labor  and 
operations  of  a  country  reside  abroad,  and  have 
of  course  the  bulk  of  their  means  where  they  do 
reside,  and  any  confiictions  arise  between  the  coun- 
try they  properly  belong  to,  and  the  one  where 
they  have  incidentally  a  small  portion  invested,  they 
become  governed  by  their  leading  interest,  and  let 
the  smaller  go.  When,  on  the  contrary,  they  are 
wholly  identified  with  their  nation  and  proper 
country,  they  do  battle  for  it,  and  exert  vast  influ- 
ences upon  its  course.  A  strong  illustration  of 
this  is  found  in  the  English  government,  where  the 
body  of  her  capital  is  invested  in  her  eight  hundred 
millions  of  national  debt.  They  not  only  aid  in  keep- 
ing her  up  with  their  personal  efforts,  but  advance 
still  more  of  their  capital  to  insure  the  safety  of 
the  other.  Her  national  debt,  in  regard  to  national 
safety,  becomes  an  arch  of  strength ;  the  more 
weight,  in  reason,  put  upon  it,  the  firmer  it  is,  and 
the  steadier  it  bears.  A  protecting  tariff  would 
induce  much  capital  to  come  from  abroad,  seeking 
investment  of  a  permanent  character.  So  great  is 
the  abundance  of  money  in  England  now,  interest 
only  two  to  three  per  cent.,  that  much  of  it  would 


•  NOTES   ON   POLITICAL   ECONOMY.  141 

flow  hither,  if  a  tolerable  prospect  were  held  out  to 
it.  This  would  be  of  no  small  advantage  to  this 
country,  and  insure  it  the  means  of  employing  all 
its  labor,  and  developing  every  resource.  A  double 
duty  devolves  on  politicians  and  statesmen,  that  of 
first  protecting,  and  rendering  effectual,  labor,  the 
basis  of  wealth ;  and  when  that  wealth  or  capital 
is  realized,  of  protecting  it,  and  offering  it  employ- 
ment in  every  possible  way  at  home.  This  pre- 
vents it  seeking  investments  abroad,  and  becoming 
alienated  from  the  country,  and  in  a  manner  alien- 
ating its  owners  too,  for  ''  where  the  treasure  is 
there  is  the  heart  also."  A  person  is  in  the 
nature  of  a  hermaphrodite  citizen  who  has  his  inter- 
ests divided  between  his  own  and  other  countries. 
His  patriotism  is  divided,  and  his  services  cannot  be 
counted  on.  If  any  thing  happens  to  that  country, 
he  calls  on  his  government  to  interfere  and  protect 
his  interests  there,  and  frequently  is  the  means  of 
involving  it  in  war,  or  alliances  of  a  doubtful  or 
injurious  character. 

i/'on,  Coal^  Copper^  Lead,  &c.  The  iron  and 
coal,  lead  and  copper,  and  other  minerals,  including 
the  clays  and  alkalies,  are  immediately  concerned 
in  a  protecting  tariff*  They  w^ould  all  be  first  devel* 
oped  as  raw  materials,  and  then  enter  deeply  into 
nearly  all  sorts  of  manufactures.  No  class  of  raw 
materials  furnish  so  much  and  contribute  so  much 
to  success  in  all  branches,  where  labor  is  engaged, 
and  all  abound  in  our  country.  The  iron  and  the 
coal  lie  together,  and  can  blow  into  existence  at 


142  NOTES  ON   POLITICAL   ECONOM\^ 

the  first  blast,  all  the  raw  materials  necessary  to  a 
thousand  other  branches  of  manufactures,  and  in 
this  compound  ratio  become  a  double  source  of 
profit.  Were  these  very  useful  materials  uncover- 
ed and  brought  into  actual  bright  existence  by  a 
tariff,  we  would  go  on  to  such  an  excess,  as  would 
swell  the  volume  of  our  raw  materials  for  export 
to  a  vast  amount.  The  world  has  so  much  use  for 
these  valuable  products,  and  in  many  countries  they 
are  worked  to  such  disadvantage  and  at  such  ex- 
pense, that  a  great  market  would  open  for  them. 
One  iron  mountain  of  fine  ore,  in  Missouri  alone, 
yielding  seventy  per  cent,  of  the  purest  malleable 
iron,  could  supply  the  whole  world,  if  rightly 
worked.  Equally  abundant  is  the  coal,  copper, 
lead,  salt,  clay,  marble,  and  all  such  things.  This 
country,  like  a  young  giant,  knows  not  its  strength 
or  its  resources,  because  it  has  never  exerted  the 
one  or  examined  the  other.  Nothing  is  wanted  to 
bring  forth  all  this,  but  a  permanent  policy,  a  cer- 
tainty of  protection,  a  security  of  the  home  mar- 
ket. All  would  then  come  forth  and  show 
themselves ;  capital,  labor,  raw  materials,  a  mar- 
ket, wealth,  comfort,  elegance,  taste,  and  indepen- 
dence. As  soon  as  confidence  was  established, 
they  would  flash  forth,  as  the  gas  lights  when 
touched  by  a  match.  No  country  is  underlaid 
so  universally  with  valuable  minerals ;  and  they 
lie  in  its  extended  fletz  or  secondary  formation 
in  horizontal  strata,  that  can  be  followed  into  the 
thousands  of  hills  and  ridges ;  and  lying  above  the 


NOTES    ON   POLITICAL    ECONOMY.  143 

Valleys,  can  be  poured  forth,  without  shafts  or 
drainings,  to  the  fertile  plains,  water  powers,  and 
navigations  that  are  there  found.  Had  this  young 
giant,  with  its  free  limbs,  hold  of  these  mines  of 
wealth,  in  the  real  skilful  way,  she  could  glut  or 
monopolize  all  markets,  both  in  the  raw  and 
wrought  state.  These  hidden  treasures  need  a 
protecting  tariff  to  uncover  them,  its  inducement 
to  make  them  available,  and  wiser  statesmen  than 
we  yet  have,  to  put  all  in  train,  and  on  the  certain- 
ty of  the  reality. 

Internal  Improvements,  Our  internal  improve- 
ments, railroads,  and  canals,  and  steamboats,  would 
be  benefited  by  the  establishment  of  manufac- 
tures, for  the  transportation  on  them  would  be  more 
voluminous  and  varied.  The  raw  materials  give 
much  more  support  to  lines  of  intercommunication, 
than  the  wrought  goods  that  a  country  needs.  In 
the  carrying  of  raw  materials  and  agricultural 
supplies  to  our  manufacturers,  and  interchanging 
with  them  for  their  goods,  the  whole  operation  is 
American,  and  as  gratifying  as  profitable  to  Amer- 
icans. When,  however,  a  sneaking  and  selfish  for- 
eigner uses  them  to  start  along  his  flimsy  dry 
goods,  perhaps  half  smuggled  in,  too  light  and  use- 
less to  pay  much  toll,  yet  valuable  enough  to 
greatly  tax  our  industry,  if  bought  and  used,  the 
scene  becomes  changed,  and  the  patriot  feels  that 
such  great  works  are  prostituted  to  unworthy  pur- 
poses, for  which  they  should  not  be  constructed  or 
intended.     The  interchanges  that  would  go  on  be- 


144       NOTES  ON  POLITICAL  ECONOMY. 

tvveen  the  agriculturists  and  manufacturers,  and 
the  growers  or  producers  of  the  raw  materialsj  and 
those  who  give  to  them  available  shapes,  or  ship 
them  off  to  a  foreign  market,  would  be  great,  and 
offer  a  most  pleasing  picture  of  prosperity.  The 
capitalists  interested  in  these  works  of  improvement 
then  would  feel  that  they  were  subserving  the 
whole  country,  were  the  very  arteries  that  gave 
diffusion  to  the  very  heart's  blood  of  the  country's 
industry,  and  that  they  were  finding  a  profitable 
dividend  from  their  investments  in  them.  Such 
works  are  the  proper  handmaids  of  a  home  mar- 
ket and  home  industry,  and  enable  them  to  meet 
the  demand  at  all  the  points,  and  in  every  shape. 

There  is  something  wrong,  when  we  see  a  peo- 
ple entering  upon  great  works  of  intercommunica- 
tion, before  they  have  developed  their  resources  in 
agriculture  and  manufactures.  It  is  like  letting 
an  enemy  into  the  heart  of  the  country,  a  serpent 
into  our  very  bosoms.  Some  foreign  nations  then 
do  not  fail  to  rush  in  their  productions  and  goods 
upon  such  invitations,  and  through  such  openings, 
to  the  forestalling  of  the  market,  and  if  unchecked, 
to  the  prevention  of  any  domestic  supply.  When  a 
nation  is  ready  for  meeting  its  home  supplies,  and 
wishes  to  bring  the  raw  material  and  the  manufac* 
tories  together  in  a  cheap  and  rapid  way,  or  the 
agricultural  provisions  in  contact  and  barter  with 
the  articles  of  our  manufacturers,  then  all  facility 
should  be  given.  Again,  when  wine  and  provi- 
sion districts,  which  of  all  others  most  need  inter- 


NOTES    ON   POLITICAL    ECONOMY.  145 

change,  require  to  be  brought  together,  or  when 
valuable  minerals,  iron,  coal,  lead,  copper,  zinc, 
clay,  and  such  things,  in  train  of  developnnent, 
and  required  by  the  manufacturers,  need  to  be 
brought  forth  for  use  and  interchange,  or  when 
agricultural  products  find  it  to  their  interest  to 
look  abroad  for  a  market,  and  require  to  be 
brought  cheaply  to  the  seaports  for  shipment, 
then  in  all  such  cases  these  roads,  and  canals,  and 
carrying  boats,  should  be  constructed,  and  the 
country  will  find  its  account  in  it.  Build  not  for 
your  rivals,  open  not  your  doors  until  you  know 
who  or  what  is  to  enter,  are  wholesome  adages, 
and  comport  with  common  prudence. 

The  impulses  of  liberty  often  carry  us  too  far 
in  reference  to  other  things.  We  feel  free  and  at 
liberty  to  act  at  home  as  we  please,  and  we  natu- 
rally extend  the  privilege  to  other  nations  and 
other  people,  in  their  communications  with  us. 
Patriotism,  we  find  at  last,  is  something  exclusive 
and  selfish,  and  like  charity  begins  at  home ;  but 
frequently,  before  we  find  that  out,  our  best  flow- 
ers of  commerce  have  been  plucked  by  foreigners, 
let  into  equal  advantages  as  our  own  citizens. 
They  are  apt  in  such  a  case  to  have  more  than 
equal  advantages,  because  they  stand  organized  in 
a  way  to  flood  our  country  with  their  productions 
to  the  exclusion  and  suppression  of  our  own,  and 
continue  to  tax  us  all  the  time,  by  the  habit  of 
looking  to  them  at  first  for  supplies,  that  we  un- 
cautiously  got  into.  The  remoteness  from  Bu- 
ll 


146  NOTES    ON   POLITICAL    ECONOMY. 

ropean  supply  has  built  up  many  manufactories  in 
the  West,  particularly  of  iron.  Then  all  works 
we  make,  and  all  facilities  we  create,  redound 
more  to  others'  good  than  our  own.  Early  modes 
of  supply,  becoming  a  national  habit,  stay  fixed 
upon  us,  and  we  continue  them  after  it  becomes 
our  interest  to  develope  our  own  resources,  and 
supply  ourselves.  National  habits  are  as  obsti- 
nate and  more  so  than  individual,  because  it  is 
harder  to  convince  and  move  a  body  politic  to 
change  them  than  it  is  an  individual.  Politicians 
should  guard  against  any  foreign  manner  of  supply- 
ing articles  of  necessity,  and  easy  modes  of  getting 
to  a  foreign  market  for  them,  because  the  habit 
springs  up  of  thus  getting  them,  and  connects  so 
many  interests  with  it,  that  it  is  hard  to  break  it 
off.  We  have  so  many  small  ties  to  sever  that 
the  great  interest,  however  apparent  the  call  for 
the  change,  finds  a  difficulty  in  breaking  through 
them  ;  and  we  often  continue  to  trade  to  a  disad- 
vantage rather  than  make  the  necessary  effort  to 
change  it.  Nations  are  easily  lulled  to  sleep,  and 
in  a  state  of  contentedness,  when  their  incomes  are 
very  scant,  if  they  never  knew  a  different  condition 
of  things;  and  it  takes  more  stimulants  to  get 
them  out  of  such  a  state  than  it  would  to  have 
started  them  right  at  first.  When  a  people  show 
energy  enough  to  make  a  revolution  and  assert 
their  liberties  and  rights,  then,  whilst  the  spirit  is 
up  and  the  human  mind  excited,  is  the  time  to  es- 
tablish their  political  economy,  and  show  them  the 


I 


NOTES    ON   POLITICAL    ECONOMY.  147 

true  policy  they  ought  to  pursue  in  regard  to  trade 
and  manufactures.  Their  habits  then  are  unfixed^ 
and  reason  and  good  sense  would  be  their  guide, 
which,  aided  by  the  effort  they  were  then  under  in 
regard  to  their  liberties,  would  easily  connect  those 
great  interests  with  it,  so  as  to  insure  them  com- 
plete success.  Our  lines  of  improvement  therefore 
cannot  fail  to  subserve  our  manufacturers,  and  be 
aided  by  them  in  making  their  dividends  on  the 
capital  invested,  carrying  as  they  would  an  infinite 
variety  of  things,  and  leading  to  such  multifarious 
interchanges. 

Commerce,  Our  commerce  will  be  enriched  by 
the  establishment  of  manufactories,  as  we  have 
said  before.  The  domestic  trade,  embracing  the 
home  market,  will  take  up  its  capital  and  its  mer- 
chants in  a  more  extensive  and  varied  way,  and 
more  actively  and  profitably,  when  all  is  of  our  own 
growth  and  production,  than  it  does  now  at  this 
time.  Our  tonnage  will  be  much  engaged  in  a 
coastwise  and  inland  traffic,  that  will  be  immense- 
ly active,  and  all  of  it  our  own.  Our  foreign  ton- 
nage too  will  still  have  the  surplus  raw  materials 
to  carry  abroad,  and  bring  back  such  luxuries  as 
we  cannot  produce  or  grow  at  home,  and  the  great 
resource  of  the  fisheries  to  scour  after,  which  will 
leave  it  but  little  impaired.  I  will  venture  to  say 
that  our  commerce  will  gain  more  by  the  active 
and  varied  coasting  trade,  the  inland  and  canal 
interchanges,  the  mutual  supplies  and  carryings 
of   the  agricultural  and    manufactured    articles, 


148  NOTES    ON   POLITICAL    ECONOMY. 

and  the  increase  of  wealth  and  productions  conse- 
quent upon  them,  than  it  will  lose  in  the  foreign 
operations.  Q,uick  returns,  active  interchanges, 
safe  operations,  steadiness  of  market,  equable  cur- 
rency and  insurance,  and  certain,  if  small,  profits, 
are  the  life  and  soul  of  all  legitimate  commerce. 
It  is  in  such  eternal  rounds  of  active  and  safe 
traffickings  that  wealth  accumulates  the  most 
surely.  In  a  commerce  based  upon  domestic  in- 
terchanges more  persons  and  agents,  as  well  as 
more  tonnage  and  capital,  are  employed,  and  so 
connected  with  it  as  to  gain  a  living  and  habits  of 
business  which  fit  them  for  useful  citizens.  There 
is  more  honesty  in  a  domestic  circle  of  trade  and 
supply,  for  character  is  always  at  stake,  and  to  be 
cherished  as  an  acceptable  quality  in  it ;  and  there 
will  be  less  cheating,  less  defrauding,  less  smug- 
gling, and  glossing  over  of  inferior  goods,  than  in 
any  foreign  trade. 

One  capital  advantage,  and  worth  a  thousand  fac- 
titious ones,  is  the  exemption  from  overtrading,  and 
those  ruinous  vibrations  in  prices,  that  an  uncertain 
commerce  leads  to.  One  time  the  market  is  clog- 
ged, at  another  time  bare ;  the  thousands  rush  in 
and  carry  that  market  immediately  to  the  most  op- 
posite extremes  alike  ruinous  to  the  importing  mer- 
chant, the  capitalist,  and  the  consumer.  When 
an  inducement  leads  to  overtrading,  millions  of 
debts  are  created  abroad,  and,  as  we  have  said,  the 
banks  run  down,  the  specie  is  borne  off,  and  a  gene- 
ral distress  invades  the  land,  and  ends  in  as  general 


NOTES    ON    POLITICAL    ECONOMY.  149 

a  bankruptcy.  We  showed  before  that  immorality, 
discredit,  false  value,  uncertainty,  as  well  as  the 
loss  of  capital  and  specie,  attend  it.  We  have  seen 
more  money  lost  in  one  fatal  year  than  we  gained 
in  half  a  dozen.  Our  foreign  commerce,  too,  is  in- 
vaded by  wars,  blockades,  the  dangers  of  the  seas, 
the  changes  of  duties,  and  the  whims  of  other  na- 
tions; whilst  our  own  domestic  intercourse  lies  snug 
in  port,  or  glides  safely  from  place  to  place,  alike 
secure  from  the  weather,  the  enemy,  and  over- 
trading. Commerce  has  as  deep  an  interest  in  se- 
curing the  home  market  and  supply  as  manufac- 
tures can  have — they  are  both  taken  up  in  supply- 
ing it,  par  nobile  sororum.  Less  money  is  necessary 
to  conduct  the  home  operations,  because  our  credit 
is  more  available  near  home,  and  most  of  the  com- 
merce is  a  mere  barter  or  exchange ;  whereas,  in  a 
foreign  trade,  specie  has  often  to  go  and  lie  out  of 
an  interest  pending  the  voyage.  The  money  ex- 
changes too  are  less  affected  in  a  home  trade,  for 
we  know  the  market  better,  what  its  condition  and 
supply  is,  govern  ourselves  accordingly,  and  are 
never  thrown  so  much  out  as  to  pay  much  for  ex- 
change. When  commerce  confines  itself  to  a  legiti- 
mate home  trade,  mostly  of  a  barter  or  exchange 
character,  it  needs  but  little  ready  money,  and 
leaves  the  more  for  other  purposes,  with  which  to 
establish  manufactories  for  instance,  to  uncover 
the  valuable  minerals  of  the  country,  or  go  into 
plate,  and  luxuries  of  taste  and  living,  w^hich  make 
the  wealth  of  a  country.     Commerce  has  no  patri- 


150  NOTES    ON   POLITICAL    ECONOMY. 

otism  in  it,  when  based  upon  foreign  supplies.  Its 
Teachings  are  often  illegitimate,  and  its  profits  com- 
port not  with  the  prosperity  of  any  one  country.  It 
is  a  cosmopolite,  and  cannot  feel  devotedly,  cannot 
act  exclusively,  nor  make  sacrifices  for  any  country. 
Of  all  occupations  and  professions  it  is  the  one 
that  ought  most  to  love  and  be  the  readiest  to 
lay  a  helping  hand  to  its  proper  country ;  and  ought, 
therefore,  to  trade  exclusively  in  that  country^s 
productions.  Banks  become  sure  depositories, 
ready  aids  of  business  operations,  in  the  short-loan 
way ;  and  centres  for  the  employment  of  active 
capital,  when  not  under  the  influences  and  fluctua- 
tions of  foreign  trade,  leading  to  overtrade.  Capi- 
tal derives  its  powers  of  accumulation  from  labor 
made  productive,  and  is  of  course  deeply  concerned 
in,  and  benefited  by,  a  protecting  tariflf,  that  would 
enable  labor  not  only  to  employ  it,  but  insure  its 
increase. 

Currency  J  Specie  ^  and  Banks.  The  currency, 
circulation,  specie,  and  banking  operations  of  the 
country,  would,  as  a  whole,  or  in  severalty,  be 
greatly  benefited  by  a  protecting  tariff.  Such  a 
tariff  would,  as  we  have  seen,  give  employment 
and  accumulation  to  capital ; — I  will  here  add,  will 
give  a  sound  and  steady  currency,  and  a  circula- 
tion as  sound,  and  based  upon  specie.  The  banks, 
the  proper  guardians  and  depositories  of  the  money, 
would  issue  those  deposits  in  convertible  paper, 
that  would  give  facility  in  carrying  from  place  to 
place,  or,  what  is  still  better,  exchanges  ;  and  keep 


NOTES    ON   POLITICAL    ECONOMY.  151 

the  whole  up  in  a  steady  and  equable  value  that 
would  be  felt.  No  overreachings  or  overtradings 
to  derange  this  convertible  currency,  cast  suspi- 
cion on  it,  make  runs  on  the  banks,  or  drafts  of 
specie.  All  would  go  on  smoothly,  and  the  regu- 
lating spring  being  in  this  country  instead  of  Eu- 
rope, would  be  under  our  own  control.  Specula- 
tion must  have  a  wide  field  where  the  imagination 
must  have  room  to  act,  and  uncertainty  appertain 
to  the  operation,  before  it  runs  wild,  and  endan- 
gers wholesome  trade,  changes  values  and  exchan- 
ges. In  a  close,  home,  snug  market,  all  its  demands 
and  supplies  are  understood,  all  its  w^ants  known 
to  all,  and  all  its  capacities  calculated  every  day  or 
month,  and  met  accordingly,  without  excitement  or 
derangement.  Speculation  runs  wild  in  reference 
to  foreign  markets,  scarcely  ever  the  home.  Cir- 
culation, and  currency,  and  banks,  and  exchange 
are  the  indices  of  a  steady,  wholesome  market,  or 
an  uncertain  foreign  one,  as  they  are  affected.  An 
alarm  in  commerce,  like  the  panics  often  encoun- 
tered in  armies,  spreads  from  uncertain  action  or 
small  causes,  when  darkness  or  confusion  prevents 
the  true  character  of  the  danger  being  seen,  and 
gathers  force  by  its  own  derangement,  until  all 
are  prostrated  before  its  wild  bearings.  A  specie 
basis  is  the  true  one  for  a  circulating  currency,  so 
long  as  trade  is  without  excitement,  or  its  balances 
undisturbed ;  but  when  speculation  sweeps  along 
with  its  alarms  and  runs,  this  specie  basis,  like  the 
rock  foundation  of  a  fine  building  in  an  earthquake, 


152  NOTES    ON   POLITICAL    ECONOMY. 

is  soonest  upheaved  and  thrown  prostrate.  It  is 
not  the  foundation  that  we  can  mend,  but  the  cause 
of  the  overthrow  avoid.  Those  nations  are  to  be 
envied,  that  go  along  the  plain  high  road  to  w^ealth 
and  comfort,  under  safe  operations  of  labor  and 
commerce,  and  keep  in  the  proper  channels  and  in 
equal  values,  not  only  the  currency  concerned  and 
the  exchanges,  but  the  values  of  all  the  commodi- 
ties that  are  the  objects  of  the  daily  exchanges 
and  operations. 

Independence.  The  independence  of  our  coun- 
try will  be  deeply  benefited,  and  placed  on  a  firm 
and  secure  footing,  by  a  protecting  tariff.  I  have 
shown  that  we  still  have  to  depend  on  foreign  mar- 
kets for  many  articles  of  the  first  necessity,  and  for 
nearly  all  of  our  luxuries.  The  important  and 
every  day  indispensable  articles  of  iron,  steel,  salt, 
coal,  copper,  blankets,  flannels,  carpetings,  saltpe- 
tre, and  such  other  things,  are  not  (to  the  shame  of 
the  country  be  it  said)  yet  made  at  home,  up  to 
more  than  one-half  of  the  consumption.  I  have 
shown  that  in  the  last  w^ar  w^ith  England,  we  had 
not  these  things,  and  had  to  take  them  from  our 
enemy  under  a  license  disgraceful  in  its  character, 
and  still  more  disgracefully  connived  at  by  our  gov- 
ernment. Near  thirty  years  have  since  elapsed, 
and  we  do  not  yet  make  and  produce  these  things. 
This  puts  to  outrage  all  experience  and  sufferings 
on  this  subject,  and  our  better  knowledge  of  the 
facts  goes  for  nothing.  What  is  any  government 
worth  in  the  public  estimation,  that  would  let  an 


NOTES    ON    POLITICAL    ECONOMY.  153 

occasion  of  this  kind  pass  as  a  thing  of  course,  and 
not  profit  by  its  lessons  7  All  our  luxuries,  both  of 
the  table  and  style,  stand  back;  none  furnished 
at  home — all  got  abroad.  No  citizen  can  pretend 
to  style  and  taste,  and  the  comforts  and  elegances 
of  a  gentleman,  without  filling  his  house,  his  cellar, 
and  ornamenting  his  person,  from  abroad.  Were 
all  these  things  made  and  produced  at  home,  we 
would  all  have  a  prouder  feeling,  a  more  indepen- 
dent and  bold  manner,  and  be  better  patriots  and 
citizens,  and  then  only  feel  and  act  like  true  Amer- 
icans. We  could  then  lean  upon  the  bosom  of  a 
rich,  and  honored,  and  refined  country,  and  try  to 
be  worthy  of  it.  Had  we  not  seen  and  felt  the 
truth  of  the  fact,  we  never  a  priori  would  have 
believed  for  a  moment,  that  any  nation  would,  by 
a  brave  and  bold  effort,  establish  liberty  and  inde- 
pendence, without  immediately,  as  a  first  principle, 
looking  to  and  insuring,  by  proper  laws  and  pro- 
tection, the  production  of  all  things  necessary 
to  the  daily  wants  of  the  people,  and  the  indepen- 
dence and  defences  of  its  government.  These 
United  States  have  too  truly  shown  a  case  to  the 
contrary  of  all  this  ;  and,  after  a  struggle  that  call- 
ed down  the  applause  of  all  the  world  upon  them, 
have  slouched  on  in  their  productions  and  consump- 
tions, as  it  v^ereby  accident,  regardlessof  any  sys- 
tem that  covered  their  wants,  secured  their  indepen- 
dence, and  guaranteed  wealth.  When  we  did 
awake  to  these  things,  we  found  our  hands  mana- 
cled by  foreign  ties  and  bonds,  and  domestic  party 


154  NOTES    ON    POLITICAL    ECONOMY. 

spirit,  in  such  a  way  that  we  could  not  act.  Self- 
ish and  interested  foreigners  were  offering  sacrifices 
upon  our  altars  and  desecrating  our  hearths,  that 
should  have  been  free  and  sacred  to  our  own  people 
only.  We  were  told  to  sleep  on  ;  they  would  take 
care  of  our  valuable  staples,  and  vouchsafe  a  sup- 
ply of  goods  to  us  on  their  terms.  Like  the  young 
and  dissipated  spendthrift,  we  sink  back  into  sloth 
and  inefficiency,  and  leave  all  to  chance,  or  what 
is  worse,  to  interested  counsellors.  The  feelings 
of  pride,  as  we  said,  that  run  with  a  full  and  ele- 
gant supply  of  all  we  want,  are  very  important  to 
a  nation,  and  awaken  patriotism  and  love  of  coun- 
try. We  look  with  but  little  satisfaction  on  the  fine 
things  around  us,  unless  we  can  feel  that  they  are 
a  part  of  our  country,  and  supplied  at  home. 
Among  the  civilized  nations  of  the  world,  we  are 
the  only  one  that  depends  for  articles  of  defence,  of 
w^ar,  of  independence,  and  for  daily  consumption, 
on  foreign  countries — perhaps  on  enemies.  Why 
have  we  earned  this  not  proud  but  strange  and 
dear-bought  distinction  7  Can  we  afford  to  act 
differently  from  the  rest  of  the  world,  and  put  at 
nought  all  experience,  all  reason  upon  the  subject? 
We  have  not  the  inherent  energy  and  union  of  ac- 
tion that  can  dispense  with  such  aids.  We  are  a 
divided,  scattered,  and  undecided  people  on  all 
emergencies,  and  need  all  these  facilities  to  give  us 
any  means  of  prompt  action,  where  our  rights  are 
invaded.  We  have  had  to  bear  with  insults  for 
years,  and  leave  them  unresented,  because  we  knew 


i 


NOTES  ON  POLITICAL  ECONOMY.       155 

that  we  had  not  the  things  necessary  to  war  and 
defence,  and  because  we  felt  that  our  population 
would  suffer  during  the  struggle,  for  most  of  the 
necessaries,  and  all  the  luxuries.  Witness  the  ten 
years  of  insult  before  we  fought  England  the  last 
time,  and  then,  owing  to  our  divisions  in  relation  to 
manufactures,  began  the  contest  in  our  shirts,  to- 
tally unprepared. 

Information.  Information  will  be  improved  by 
the  establishment  of  manufactories,  and  morality 
not  injuriously  affected,  nor  the  health  or  constitu- 
tion impaired,  when  carried  on  as  done  in  New 
England.  In  order  to  apply  the  Lancastrian  moni- 
torial system  of  education  to  any  population,  it  is 
necessary  to  have  them  condensed  into  close  settle- 
ments. This  very  sweeping,  cheap,  and  efficient 
plan  cannot  follow  people  into  the  woods ;  cannot 
flourish  on  the  frontier,  where  they  could  not  be 
gathered  together,  and  made  to  teach  each  other, 
and  sympathize  together.  In  the  manufacturing 
villages  the  children,  proper  subjects  for  this  sort 
of  school,  are  crowded  together,  and  can  be  col- 
lected at  the  ringing  of  a  bell,  enough  to  fill  the 
largest  sort  of  a  room.  A  little  money  serves  for 
the  purpose;  and  the  human  mind  advances  to 
usefulness  and  information  in  solid  column,  support- 
ed by  each  other's  sympathies.  At  night,  when  the 
day's  labor  is  over,  the  ringing  of  the  same  bell  will 
call  the  adults,  male  and  female,  not  to  gin  shops, 
but  to  lecture  rooms,  filled  with  books,  apparatus, 
and  specimens,  and  a  lecturer,  that  can  engage, 


156  NOTES    ON    POLITICAL    ECONOMY. 

amuse,  and  instruct  them.  If  the  selfishness  of  the 
English  capitalists,  owners  of  the  factories,  had  not 
been  in  the  way,  and  a  start  taken  of  the  gin 
shops  by  these  schools  and  lectures,  their  opera- 
tives would  not  at  this  day  be  so  degraded,  igno- 
rant, and  dissipated.  They  would  have  found 
amusement  as  w^ell  as  the  delights  of  information  in 
these  rooms,  and  been  a  more  valuable  and  useful 
class.  In  this  country  we  carry  the  facility  of  in- 
formation and  of  education  into  the  factory  villages 
and  towns,  and  find  it  eflfectual.  The  rising  gene- 
ration are  all  taught;  the  adults  attend  lectures, 
and  become  even  scientific.  Self-esteem  and  the 
moral  principle  take  hold  of  them,  and  lead  to  a 
care  and  providence  that  instantly  banish  want 
and  suffering,  and  pretty  much  dissipation  and  vice. 
The  philanthropists  connected  with  these  New 
England  manufacturing  villages  now  challenge 
a  comparison  between  their  operatives  and  the 
same  number  of  agriculturists  in  that  or  any 
country,  both  as  to  information,  taste,  decency, 
providence,  and  virtue;  and  very  disinterested  per- 
sons do  not  hesitate  to  say  that  all  is  in  favor  of  the 
operatives.  We  have  lost  nothing,  then,  in  moral- 
ity, have  gained  much  in  decency  and  taste,  much 
in  providence  and  care,  much  in  character,  and  even 
religion.  I  may  add  as  last,  but  not  least,  that  they 
have  still  greater  and  more  striking  advantages  in 
wealth  and  productiveness. 

We  have  now  gone  over  the  whole  ground,  ex- 
amined  every  interest   candidly  arid   fairly,  and 


NOTES    ON   POLITICAL    ECONOMY.  157 

seen  that  the  introduction  of  manufactures  by  a 
protecting  tariff  would  subserve  and  promote  all, 
collectively  and  severally.  The  reasoning,  facts, 
and  arguments  brought  forward,  will  be  conclusive 
to  the  minds  of  all  that  are  unprejudiced,  and  take 
time  to  examine  them.  To  the  patriot,  a  picture  of 
prosperity  and  national  independence  is  presented 
that  cannot  fail  to  please  and  delight  him, — to  the 
statesman,  enough  to  bring  him  into  the  support  of 
all  that  is  wanted  to  complete  and  effectuate  its 
realities, — to  the  agriculturist^  a  rich  harvest  and  a 
varied  resource, — to  the  merchant,  a  better  basis  of 
trade,  with  certain  wealth,  and  fewer  dangers, — to 
the  capitalist,  a  certain  and  sure  employment  for 
his  money,  and  every  prospect  of  an  increase  of 
it, — to  the  slaveholder,  some  hope  of  more  profit, — 
and  to  the  manufacturer,  the  gratitude  of  his  coun- 
try, as  well  as  a  harvest  of  wealth  and  comfort. 
Nothing  is  wanting  but  a  single  act  of  Congress, 
giving,  in  the  first  instance,  the  home  market,  which 
would  be  inducement  enough  to  realize  the  whole, 
and  cover  all  the  ground.  Let  us  up  and  act,  and 
make  our  country  worth  living  in. 


CHAPTER   XIX 

FOREIGN    COMMERCE. 


Let  us  now  inquire,  what  political  economy, 
under  the  present  circumstances  of  our  country  and 


158  NOTES   ON   POLITICAL    ECONOMY. 

its  foreign  commerce,  should  and  ought  to  do  for 
that  commerce,  to  place  it  on  the  proper  ground. 
We  have  seen  how  the  establishment  of  manufac- 
tories would  affect  it,  and  have  inquired  whether 
it  be  overdone  or  not,  taken  in  its  present  state. 
Now  w^e  will  try  to  ascertain,  whether  our  foreign 
commerce  might  not  be  placed  on  a  better  footing 
than  it  now  stands  on,  by  some  enactments  of  our 
Congress,  or  treaties  entered  into  with  foreign  gov- 
ernments, in  relation  thereto.  We,  or  rather  our 
politicians,  or  more  properly  still,  our  demagogues, 
have  always  been  too  busy  studying  party  inter- 
ests, and  too  much  under  the  influence  of  party 
spirit,  to  think  enough  about  the  great  relations  of 
commerce  and  manufactures,  to  understand  them, 
or  know  any  thing  about  their  bearings.  Hence 
our  manufacturing  interests  are  a  foot-ball,  contin- 
ually bandied  about,  and  up  and  down,  until  no 
one  knows  on  what  to  count.  Our  commerce  has 
taken  a  little  better  care  of  itself ;  and  had  it  been 
left  entirely  alone,  it  would  by  its  great  activity, 
and  inherent  spring  and  elasticity,  have  placed  it- 
self on  a  good  footing,  or  a  better  one  than  it  now 
rests  on.  We  are  a  great  people  in  our  own  esti- 
mation, and  are  continually  experimenting  in  regard 
10  the  most  practical  of  all  pursuits,  commerce. 
Our  politicians,  principally  of  the  Jefferson-demo- 
cratic school,  hit  on,  as  they  thought,  a  great  prin- 
ciple, that  of  reciprocity ;  and  held  it  forth  to  the 
commercial  w^orld  in  all  the  confidence  of  an  em- 
piric.  Our  Congress  were  so  tickled  with  the  idea, 


NOTES   ON    POLITICAL    ECONOMY.  159 

or  discovery,  that  they  passed  a  general  law  on  the 
subject,  directing  the  executive  to  place  our  com- 
merce and  shipping  upon  it,  as  soon,  or  as  fast  as 
other  nations  encouraged  it.  To  show  the  folly  of 
such  a  principle,  and  its  absolute  injustice  and  im- 
prudence both,  let  us  follow  its  first  steps  into  fact 
and  practice.  We  will  take  it  up  first  in  relation  to 
a  reciprocity  in  port  charges  and  tonnage  duties. 
The  large  commercial  nations,  our  rivals,  such  as 
England,  France,  Russia,  Sweden,  Portugal,  Hol- 
land, Belgium,  and  others,  paid  no  attention  to  our 
great  principle,  and  rejected  all  offers  to  treat  upon 
that  basis,  because  they  had  a  large  active  com- 
merce, and  chose  to  keep  it  under  their  own  con- 
trol, and  such  regulations  from  time  to  time,  as 
their  interests  might  require.  The  small  states, 
however,  such  as  Denmark,  Hamburgh,  Bremen, 
Prussia,  Brazil,  Tuscany,  Rome,  Greece,  and  the 
like  contemptible  governments,  without  any  ship- 
ping worth  speaking  of,  caught  at  the  idea  of  reci- 
procity, and  recognized  in  it  a  great  princijjle. 
They,  therefore,  as  soon  as  offered,  made  such  trea- 
ties with  us,  and  they  were  paraded  by  our  wise- 
acres to  Congress,  duly  ratified,  and  as  duly  puffed. 
These  powers,  having  little  tonnage  and  less  trade, 
are  greatly  gainers  by  the  treaty  over  us,  with 
much  tonnage  and  much  trade.  Our  rival  nations, 
finding  things  so,  slip  their  tonnage  under  the  flags 
of  these  contemptible  powers,  and  send  it  here  free 
of  tonnage  duty,  whilst  all  our  numerous  ships  en- 
tering their  ports,  have  to  pay  these  duties,  which 


160  NOTES    ON    POLITICAL    ECONOMY. 

gives  them  all  that  advantage  over  us.  We  know 
how  easy  this  is  done  by  the  custom-house  leger- 
dermain  of  all  ages  and  nations.  We  will  exempli- 
fy this  by  a  familiar  case.  A  rich  lord  and  a  poor 
man  live  near  each  other.  The  poor  man  says  to 
him,  "  My  dear  sir,  you  have  wines,  plate,  servants, 
furniture,  and  stores  of  all  sorts ;  I  have  some 
things,  too,  such  as  splint-bottom  chairs,  pewter 
spoons,  buckhorn-handled  knives,  and  a  good  deal 
of  delf  and  some  hard  cider.  Now  as  we  both  see 
our  friends  occasionally,  let  us  reciprocate  ;  when 
I  see  my  neighbors,  you  must  lend  me  your  wines, 
servants,  plate,  costly  linen,  furniture,  and  viands, 
and  when  you  see  your  noble  friends,  I  will  recip- 
rocate, and  send  you  my  things."  This  would  be 
reciprocity  with  a  vengeance  ;  yet  the  same  sort  as 
exists  between  us  and  Bremen,  or  Leghorn,  and 
others.  Bremen  now  is  highly  commercial,  sends 
here  hundreds  of  ships,  and  occupies  a  whole  range 
of  wharves  on  the  North  River  in  New- York. 
Hamburgh  sweeps  the  Elbe,  and  sends  out  for 
Prussia,  Hanover,  Bohemia,  Austria,  and  pretty 
much  all  the  Baltic  states.  Leghorn  trades  for 
Italy  and  Greece,  and  Brazil  and  Buenos  Ayres  for 
England,  as  far  as  South  America  is  concerned. 

These  few  cases  show  the  operations  of  the  great 
principle  of  reciprocity  as  far  as  tonnage  duties  go, 
and  prove  its  short-sighted  and  impolitic  effect 
upon  us.  The  great  principle  is  still  sung  in  our 
legislative  halls,  and  stands  on  our  statute  books  in 
all  the  sacredness  of  a  treaty ;  an  everlasting  re- 


NOTES  ON  POLITICAL  ECONOMY.        161 

cord  of  our  weakness  and  want  of  thought,  or  the 
proper  sort  of  knowledge.  Our  tariff,  as  lame  as  it 
is,  speaks  as  to  the  duty  on  manufactures,  but  a 
party  stands  forth  that  would  put  them  too  on  the 
great  principle  of  reciprocity.  Our  commerce 
therefore  needs,  and  loudly  calls  for,  enactments  in 
these  respects  that  will  protect  our  own  tonnage 
and  shipping  interest,  and  stand  it  on  a  footing 
that  will  cherish — not  sacrifice  it.  Sweep  me 
from  our  national  legislature  such  simple,  empty- 
headed,  visionary  politicians,  or  demagogues,  that 
from  ignorance  are  daily  overreached,  and  from  par- 
ty drilling  dare  not  do  right  when  they  are  told  it. 
It  is  equally  short-sighted  to  make  treaties  guaran- 
teeing the  advantage  of  the  mostTavored  nation  to 
any  one,  for  we  may  have  a  strong  motive  of  inter- 
est to  offer  advantages  to  some.  Our  commerce  too 
has  lost  a  very  legitimate  branch  of  trade;  I  do  not 
mean  the  carrying,  for  all  nations  have  a  right  to 
carry  their  own  productions,  but  the  trade  to  the 
ports  of  nations  which  they  choose  to  call  their 
colonies.  The  mother  countries,  particularly  Eng- 
land, and  France,  and  Holland,  forbid  our  going  to 
their  colonies  with  any  thing  of  their  growth,  or 
bringing  away  any  thing  for  shipment  to  the  mo- 
ther country  of  colonial  growth.  We,  however, 
with  all  the  thoughtless  indifference  imaginable  to 
our  own  interests,  allow  those  nations  to  carry  our 
products  to  their  colonies,  and  from  one  of  our  ports 
to  another,  without  any  let  or  hinderance.  We  should 
countervail  all  these  things,  correct  these  one-sided 

12 


162  NOTES    ON    POLITICAL    ECONOMY. 

and  partial  operations,  and  be  true  to  ourselves  and 
our  own  commerce.  We  will  not  only  lose  much 
interest  and  advantage  by  this  want  of  discrimina- 
tion and  sharpness,  but  incur  the  contempt  of  all 
that  witness  it.  Most  of  our  injurious  laws  and 
treaties  are  made,  not  from  a  love  of  free  trade,  as 
some  pretend,  but  from  absolute  ignorance  of  the  sub- 
jects, and  a  want  of  practical  men  in  our  councils. 
If  we  were  true  to  our  great  commercial  interests, 
we  would  secure  the  carrying  of  our  huge  and 
voluminous  bulk  of  agricultural  and  staple  pro- 
ductions to  all  the  countries  that  require  them  for 
use.  They  are  valuable  and  important  enough  to 
enter  into  all  treaties  and  commercial  arrange- 
ments. Rather  than  lose  them,  or  have  them  with- 
held, all  nations  would  bear  any  commercial  ar- 
rangement in  regard  to  them,  even  if  it  led  to  some 
more  charges  or  cost.  England  would  let  us  into 
her  colonial  trade  rather  than  forego  the  advan- 
tages of  carrying  our  cotton  from  our  country.  We 
are  too  yielding,  short-sighted,  simple,  ignorant,  or 
not  sufficiently  practical  to  reap  these  harvests  when 
in  our  way,  and  avail  ourselvesof  the  vantage  ground 
the  God  of  nature  has  stood  us  on.  When  a  nation 
has  raw  materials  valuable  enough,  staples  bulky 
enough,  agricultural  productions  important  enough, 
and  ships  enough  to  affect  all  the  business  of  the 
commercial  world,  and  produce  spasms  or  activity 
as  furnished  or  withheld,  thrift  or  prostration  as  fav- 
ored or  not,  she  should  avail  herself  of  such  vantage 
ground,  such  a  leverage,  to  not  only  build  up  her 


NOTES  ON  POLITICAL  ECONOMY.       163 

shipping  interest  and  commerce,  but  obtain  through 
their  operations  all  the  benefits  and  concessions  she 
may  demand  or  need.  When  the  fulcrum  is  fur- 
nished by  Nature's  God  to  this  young  Archimedes,  it 
still  fails  to  move  the  commercial  world.  Our  com- 
merce, if  we  demanded  it,  might  double  with  Eng- 
land around  the  great  capes  of  South  America 
and  Africa,  and  sweep  the  bays  of  Bengal  and 
Bombay,  scour  with  her  the  West  Indies,  run  with 
her  through  all  her  various  colonies,  and  in  every 
port,  place,  colony,  or  mother  country,  be  a  part  of 
herself  as  to  facilities  secured  by  treaty.  No  na- 
tion could  gainsay  us,  for  we  would  be  in  possession 
of  all  seas.  No  nation  could  war  upon  us,  for  we 
would  be  full  of  resources  and  wealth.  No  nation 
could  countervail  us,  for  we  would  control  all  the 
productions  necessary  to  her  existence.  We  would 
stand  on  high  and  enviable  ground,  placed  there  by 
our  own  wisdom,  that  made  use  of  natural  advan- 
tages and  resources  too  valuable  to  nations  to  be 
placed  on  any  doubtful  footing.  This  young  Hercu- 
les, that  strangled  not  the  serpent  in  its  early 
grasp,  will  fall  like  Laocoon  in  the  foldings  of  its 
wrath.  Our  country  has  never  used  to  the  best 
advantage  our  commercial  situation  ;  has  not  im- 
proved the  talent  given  to  us ;  but  the  rather  buried 
it  under  party  ignorance  and  prejudice.  Let  us 
now  take  hold  in  earnest  of  our  commercial  rela- 
tions, countervail  where  necessary,  destroy  all 
mock  reciprocity,  and  show  the  world  that  we 
must  be  benefited  exactly  in  proportion  to  our  na- 


164  NOTES    ON    POLITICAL    ECONOMY. 

tural  advantages,  and  the  value  of  our  productions 
and  raw  staples.  It  will  cost  us  much  negotiation, 
much  bickering,  and  time,  now  to  correct  what 
worthless  politicians  have  either  done  wrongly  or 
left  undone.  It  will  cost  us  no  war,  however  ;  for 
we  as  customers,  and  our  productions  as  raw  ma- 
terials and  provisions,  are  too  valuable  and  dear  to 
other  nations  to  have  them  jeopardized  by  a  war  or 
non-intercourse. 


CHAPTER    XX. 

RAW    AND    WROUGHT    VALUES. 

The  difference  between  raw  and  wrought 
values  is  strongly  marked  and  felt  in  all  the  opera- 
tions of  producing,  fabricating,  and  trading.  The 
raw  thing  or  material  is  necessarily  rough,  coarse, 
and  bulky,  implies  little  value  comparatively,  and 
is  generally  prepared  or  produced  by  a  new  coun- 
try and  a  less  refined  people,  and  appertains  to  a 
rude  state  of  the  arts  and  a  less  skilful  population. 
It  makes  up  in  its  bulk  to  the  carrier  and  the 
merchant  what  it  lacks  in  value,  and  employs 
more  tonnage  and  more  agencies  in  the  transporta- 
tion and  disposition  of  it.  New  countries  begin 
their  productions  with  the  raw  material  and  crude 
provisions,  which  pass  on  for  fabrications  and  con- 
sumptions to  more  skilful  countries.     The  produe- 


NOTES    ON    POLITICAL    ECONOMY.  165 

tions  of  a  country  indicate  not  only  the  state  of  the 
arts  but  of  refinement ;  and  the  makers  of  articles  of 
fancy,  elegance,  and  luxury,  are  necessarily  cultiva- 
ted in  their  taste.  The  hands,  the  axe,  hoe,  plough, 
and  sickle,  produce  provisions  and  staples ;  a  w^ood- 
fire  blasts  the  metals ;  but  it  requires  the  finest 
manipulations,  the  most  delicate  and  complicated 
machinery,  and  some  knowledge  of  mathematics, 
chemistry,  and  taste  in  designing,  to  create  all  the 
fine,  elegant,  and  luxurious  articles,  such  as  apper- 
tain to  the  more  advanced  and  refined  state  of  soci- 
ety. The  value  of  the  rav^  material,  and  the  same 
material  when  wrought,  is  as  one  to  five  on  the 
average.  We  are  content  to  be  that  crude  people 
that  roughly  produce  provisions  and  raw  materials, 
that  enjoy  the  raw  value,  and  let  our  more  refined 
neighbors  reap  the  five-fold  wrought  price ;  and  we 
weigh  ourselves  down  with  roughness,  and  bulk, 
and  uncouth  shapes,  whilst  our  more  refined  cus- 
tomers display  the  light,  the  elegant,  and  richly 
beautiful  forms  of  the  manufactured  goods.  Our 
politicians  aspire  not  to  taste,  refinement,  and  the 
wealth  that  this  five-fold  value  imparts,  but  leave 
us  the  clodhoppers  of  the  farms,  or  the  hewers 
of  wood  in  the  forests,  or  the  trappers  of  fur  in  the 
mountains,  or  fishermen,  to  work  along  in  a  natu- 
rally rough  way,  without  protection  or  further  in- 
ducement. One  third  part  of  the  people  who  pro- 
duce a  raw  material,  cotton,  wool,  iron,  hemp,  silk, 
tobacco,  flax,  or  any  other  such  things,  can  and  do 
work  them  up,  and  impart  to  them  by  the  opera- 


166  NOTES    ON   POLITICAL    ECONOMY. 

tion  five  values.  In  plain  mathematics,  one  manu- 
facturer produces  in  value,  or  money,  five  times  as 
much  as  the  one  engaged  in  raising  the  raw 
material.  One  Englishman,  spinning  up  a  given 
quantity  of  cotton,  earns  more  than  five  slaves 
can  in  growing  it  in  Louisiana.  This  is  the 
high  ratio  that  all  manufacturing  people  have  rode 
upon  to  the  wealth  and  elegance  that  such  nations 
display,  and  accounts  for  that  wealth  with  which 
England  astonishes  and  subsidizes  the  world ;  for  in 
vain  may  you  look  for  it  in  her  soil  and  agriculture, 
and  her  commerce  was  merely  the  medium  through 
which  this  wealth  flowed  in  and  was  realized.  Tlie 
commerce  of  a  people,  in  these  times  of  exclusive 
right,  when  each  nation  sets  up  to  carry  its  own  pro- 
ductions, must  depend  on  what  that  people  produce, 
and  only  disposes  of  it  and  what  it  commands  from 
other  countries.  Commerce  cannot,  therefore,  en- 
rich a  people  in  the  abstract,  and  can  contribute  to 
it  only  as  the  medium,  agent,  or  go-between  of  a 
population  and  their  productions,  and  the  nations 
that  want  them  and  their  trade.  In  vain,  then, 
may  our  politicians  allege  that  England  was  en- 
riched by  her  commerce  instead^of  her  manufac- 
tures, for  the  latter  constituted  the  very  basis  and 
essence  of  that  commerce,  called  it  into  existence, 
and  through  it  realized,  not  only  the  value  of  her 
manufactures,  but  a  profit  on  them  beyond,  in  the 
nature  of  a  tax  upon  those  who  consumed  them. 
All  the  profits  of  commerce  are  incidental,  and 
have  reference  to  its  basis  and  support.     Like  the 


NOTES    ON    POLITICAL    ECONOMY.  167 

light  of  a  satellite,  tlie  profits  of  commerce  are  bor- 
rowed and  reflected,  not  inherent  as  the  centre 
sun  of  business,  not  creative  as  the  producers 
are. 

All  the  nations  of  Europe  count  wealth  either 
as  accumulated  capital,  or  as  realized  in  the  shape 
of  improvements  and  luxuries,  exactly  in  propor- 
tion as  they  have  manufactories,  and  through  them 
subsidized  the  world.  They  have  accumulated 
wealth  faster,  when,  like  England,  they  connect 
an  active  commerce  with  them,  to  give  to  them 
rapid  distribution,  and  increase  the  profits  on  them 
by  a  tax  on  their  transportation.  The  ratio  then 
becomes  geometrical^  for  the  basis,  which  is  the 
goods  manufactured,  is  very  profitable,  and  the 
charges  of  the  transportation  and  bartering  of 
them  through  trade,  an  additional  profit — both 
operations  blending  in  happily  together,  and  swell- 
ing the  wealth  of  the  country.  It  is  almost  discour- 
aging to  see  a  population  laboring  at  the  produc- 
tion of  the  bulky,  and  rough,  raw  product — and 
some  of  them  too  unpleasant  for  free  people  to 
enter  on  or  touch,  and  leading  for  that  reason  to 
the  employment  of  slaves,  the  curse  of  any  coun- 
try— whilst  a  less  amount  of  laborers  are  using  or 
working  up  these  raw  materials  with  a  compara- 
tive ease  to  themselves,  and  deriving  from  them  five 
times  the  profit  that  those  do  who  produced  them 
with  so  much  pain.  The  rough,  besweated  south- 
erner, the  savage  backwoodsman,  the  reckless  fish- 
erman, the  clodhopping  farmer,  stand  low  in  any 


168  NOTES    ON    POLITICAL    ECONOMY. 

scale  of  civilization  and  taste  in  comparison  with 
the  artists.  It  is  no  argument  against  the  high 
profits  of  manufacturing  that  its  operatives  are 
often  poor  and  distressed,  for  that  is  owing  to  the, 
excess  of  competition  in  the  capitalists  that  put 
them  in  motion,  creating  an  overloaded  market. 
The  wealth  derived  is  as  great  in  the  aggregate, 
and  as  sure  to  the  coffers  of  the  nation,  but  so  di- 
vided that  individuals  derive  nothing  but  a  support 
after  the  capitalist  receives  his  dividend.  Eng- 
land has  occasionally  accumulated  wealth  as  fast 
when  the  wages  of  the  operatives  were  low  as 
when  they  were  high ;  the  wealth  and  profit  in  the 
aggregate  were  the  same,  but  the  distribution  of  it 
among  the  producers  more  unequal.  England  has, 
for  instance,  four  hundred  millions  of  money  spin- 
ning cotton,  and  makes  fifty  millions  of  profit.  If 
she  makes  that  profit  with  one  hundred  thousand 
operatives,  or  with  two  hundred  thousand,  it  is  the 
same  thing  to  the  nation ;  not,  however,  to  the 
operatives  individually,  for  their  wages  in  the 
one  case  is  double  what  it  is  in  the  other.  If, 
however,  she  has  too  much  labor,  it  would  be 
better  perhaps  to  employ  two  persons  at  half 
wages,  than  one  at  whole,  if  the  half  wages 
can  support  them.  Half  wages  are  better  in 
all  cases  than  idleness,  because  that  leads  to 
vice,  disorder,  and  suffering.  National  accumu- 
lations stand  occasionally  on  a  different  footing 
from  the  mass  of  individuals,  where  the  capitalists, 
as  we  have  said,  being  few,  enjoy  the  profits,  and 


NOTES    ON    POLITICAL    ECONOMY.  169 

the  laborers  being  many  divide  the  wages  to  death, 
and  get  a  bare  support ;  still  these  profits  and  these 
capitalists  are  in  and  of  the  nation.  The  only- 
thing  that  redeems  the  condition  of  the  producers 
of  the  raw  material  and  provisions  from  the  rough- 
ness and  low  profits  incident  thereto,  is  the  rough 
sort  of  independence  that  runs  with  it,  in  regard  to 
the  individuals  themselves,  but  not  in  regard  to  the 
nation,  its  resources  and  defences.  We  may  look 
through  Europe  and  verify  the  fact,  that  all  the 
rich  nations  are  manufacturers.  Often  the  richest 
nations  are  naturally  the  poorest  as  to  soil  and 
agricultural  productions.  When  any  of  them  are 
commercial — and  most  are  that  manufacture — it  is 
because  these  very  manufactures  form  the  basis 
of  their  commerce,  the  latter  being  only  incidental. 


CHAPTER    XXI. 

NATIONS    OF    THE  WORLD THEIR  CONDITION,    AND  1  [IE 

CAUSES. 

England.  Let  us  in  connection  with  this  sub- 
ject run  over  the  actual  state  or  condition  of  each 
nation  of  Europe,  and  see  at  a  glance  the  character 
and  source  of  their  wealth  if  rich,  or  the  cause  of 
their  poverty  if  poor.  England  stands  at  the  head 
of  the  list,  both  for  wealth  and  manufactures.  She 
lives  in  wealth  and  luxury,  and  has  capital  enough 
to  buy  the  world,  if  offered  for  sale.  In  other  words. 


170  NOTES    ON    POLITICAL    ECONOMY. 

she  has  as  much  money  as  all  Europe  besides.  The 
question  naturally  arises,  How  did  she  acquire  it  1 
Not  by  her  agriculture,  for  the  utmost  that  ever 
did  was  to  feed  and  support  her,  and  now  does 
not  do  that  much.  Not  by  her  fisheries,  for  they 
barely  supply  her  with  the  luxuries  and  products  of 
the  ocean.  Not  by  working  gold,  silver,  and  dia- 
mond mines,  for  she  has  none  of  them.  It  is  the 
fruit  of  her  labor,  her  manufacturing  labor  and 
skill,  and  the  commerce  that  is  based  upon  it. 
These  have  been  called  into  existence  by  wise  poli- 
cies and  protections,  and  cherished  up  to  the  pres- 
ent point,  when  they  are  putting  the  whole  world 
in  requisition.  These  manufactories  w^ere  aided  by 
iron,  coal,  copper,  and  tin  mines,  which  the  same 
wise  policy  early  uncovered,  and  turned  in  as  in- 
valuable supports  to  these  manufactories.  When 
these  things  became  started  and  developed,  showing 
some  surplus,  the  same  wise  policy  saw  in  the  in- 
sular situation  of  England  great  commercial  facili- 
ties, and  sprung  an  active  commerce  into  existence, 
under  navigation  acts  and  other  inducements,  in 
order  to  trade  on  and  dispose  of  this  surplus.  She 
secured  to  it  a  monopoly  of  all  these  products  of  the 
manufactories  and  mines,  and  threw  it  into  an  eter- 
nal alliance  and  subservience  to  them.  This  com- 
merce carried  forth  to  the  new  and  the  old  world 
these  artificial  productions ;  supplied  all,  created 
new  markets  when  necessary;  traded,  bartered, 
gathered  in  the  raw  material  these  factories  need- 
ed, or  money,  as  the  case  might  be;  and  returned 


NOTES    ON   POLITICAL    ECONOMY.  Itl 

fraught  with  wealth  and  the  means  of  producing 
more  wealth.  Her  situation,  activity,  free  institu- 
tions, and  intelligence,  soon  placed  all  the  new 
continents  in  her  power  as  markets;  enabled  her 
when  it  became  advisable  to  conquer  the  Indies 
East  and  West,  and  create  all  of  them,  with  their 
hundred  million  inhabitants,  into  consumers  and 
producers  of  wealth  to  her.  The  thing  became 
geometrical  as  it  rolled  on;  every  new  fulcrum 
supported  a  new  and  mighty  leverage  of  power  that 
moved  a  new  world,  and  turned  it  over  to  her  use 
and  behoof  The  capital  already  accumulated 
loaned  itself  to  new  conquests  in  order  to  gain  new 
markets,  or  created  new  and  mightier  navies  to 
secure  all  her  wide  conquests  and  dominions.  All 
of  this  mighty  fabric  of  English  greatness  and 
wealth  owes  its  existence  to  her  manufactories, 
including  her  mines,  and  to  the  shipping,  commerce, 
trade,  and  navy  that  grew  out  of  them,  and  de- 
pended on  them  for  their  support  and  extension,  as 
well  as  their  origin. 

We  might  stop  at  England,  for  she  furnishes  an 
example  strong  enough  to  melt  a  mountain  in  the 
way  of  conviction,  of  the  unlimited  profits  and 
wealth  growing  out  of  manufacturing ;  especially 
where  a  commerce  has  sprung  up  based  upon  it 
and  subservient  to  it,  and  a  government  true  to  its 
protection  and  extension.  Pause  for  a  moment 
and  compare  England  and  our  country — how  wide 
the  difference  in  their  profits  and  progress  !  With 
not  more,  on  the  average,  than  double  our  popula- 


172  NOTES    ON    POLITICAL    ECONOMY. 

tion,  she  has,  since  the  revolution  that  brought  us 
into  existence,  made  and  realized  not  less  on  every 
estimate  than  twenty  times  as  much  capital  to  the 
head  as  we  have.  England,  her  writers  say,  has 
a  clear  income  in  money,  after  supplying  herself 
every  year,  of  two  hundred  millions  to  add  to  her 
capital ;  whereas  we  have  not  one  cent,  and  often 
fall  in  debt  and  behind,  after  supplying  and  buying 
what  we  ought  to  make  at  home.  We  are  now  in 
debt  not  less  than  three  hundred  million  of  dollars 
to  England  for  her  capital  borrowed  and  lost,  and 
her  goods  bought  for  consumption  at  the  time  so 
many  of  our  people  were  idle  and  might  have  made 
them.  England,  on  the  contrary,  has  the  above  in- 
come and  owes  not  one  cent ;  for  her  national  debt 
is  owed  to  herself,  and  in  this  sense  no  debt  at  all. 
All  the  world,  except  France  and  Holland,  owes 
England;  she,  nothing.  The  difference  between  a 
nation  that  has  an  income,  and,  one  with  not  only 
no  income,  but  a  deficiency  and  debt  instead,  is  as 
wide  as  heaven  and  earth  ;  indeed,  you  cannot  com- 
pare them,  for  there  are  no  data,  no  ground  to  stand 
on  ;  as  well  might  we  compare  nothing  to  some- 
thing, or  subtract  nought  from  millions — there  is  no 
result.  The  above  reasoning  applies  to  the  capital 
or  income  of  a  people,  nationally  speaking ;  not  to 
individuals,  for  they  must  live  and  support  them- 
selves in  either  case,  and  it  is  the  accumulation  of 
capital,  not  bread,  that  is  concerned.  Ai^^tion  that 
outlays  one  dollar  for  a  raw  material  and  makes  it 
worth  five  by  bestowing  labor  on  it,  must  realize 


NOTES    ON    POLITICAL    ECONOMY.  173 

four  dollars  by  the  operation  ;  no  matter  bow  you 
divide  tbat  four  dollars  between  ber  labor,  capital, 
merchant,  or  shipping,  it  is  still  made  and  realized. 
If  instead  of  paying  the  one  dollar  for  the  raw  ma- 
terial, she  made  or  produced  that  too,  the  whole 
five  then  is  a  creation,  a  profit,  a  realization.  Here 
stands  this  country  of  ours  with  labor  enough,  and 
much  of  it  idle,  to  not  only  produce  the  raw  mate- 
rial that  she  now  does,  but  to  give  it  the  wrought 
value  that  counts  England  so  much,  and  merchants 
and  shipping  enough,  too,  to  distribute  it  all  where  it 
might  be  wanted.  If  we  were  to  manufacture  two 
hundred  million  dollars  worth  of  goods  annually  from 
our  own  raw  material,  in  addition  to  that  unbounded 
raw  product,  and  sell  them  abroad,  superadding  to 
them  the  profits  of  transportation  and  commerce,  we 
would  be  the  richest  people  on  earth.  Nothing 
could  then  contain  our  wealth,  number  our  luxu- 
ries, or  equal  our  advances  in  power  and  influence. 
Could  all  this  be  realized  7  It  is  possible,  but  very 
improbable,  and  hardly  desirable.  It  would  enrich 
us  fast  enough  for  our  comfort  and  safety,  to  move 
up  to  our  home  consumption  only,  and  secure  that 
which  is  justly  ours  by  the  proper  laws. 

We  have  slaves  enough  to  produce  all  the  raw 
staples  they  now  do,  and  manufacture  them  also. 
If  then  it  degrades  free  people,  as  some  pretend,  to 
manufacture — demoralizes  and  attenuates  them, 
or  renders  them  sickly — since  slavery  is  really  fas- 
tened upon  us  by  force  of  adamantine  circumstan- 
ces, and  must  be  endured,  could  it  not  be  made  to 


174.  NOTES    ON   POLITICAL    ECONOMY. 

produce  all  this?  Why  not  try  it?  Why  not 
make  the  mighty  effort  ?  It  would  cost  no  more 
sacrifice  of  liberty,  or  humanity,  than  it  now  does. 
It  would  then  be  in  its  proper  sphere,  and  the  forced 
and  imprisoned  labor  that  it  must  be.  All  compar- 
isons, then,  between  England  and  this  country, 
either  fail  or  end  to  our  disadvantage,  both  as  to 
policy  and  productiveness.  We  are  truly  and  lite- 
rally now  slaves  to  England,  her  hewers  of  wood 
and  drawers  of  water,  and  contribute  to  her  exalt- 
ation and  emolument  in  every  way.  We  toil  and 
sweat,  trudge  through  mud  and  mire,  sunshine  and 
rain,  a  burning,  deadly  climate,  and  a  frozen  zone, 
all  to  produce  invaluable  raw  materials  for  Eng- 
land to  work  up  and  reap  a  harvest  from.  Lest  all 
this  might  not  be  enough,  we  scandalize  and  dis- 
grace ourselves  and  posterity,  with  the  foul  blot  of 
slavery  reaching  to  millions,  in  order  to  insure  it. 
See  the  American  capitalist  and  master,  rough  and 
exposed,  worried  and  fretting,  weighed  down  by 
the  vast  bulk  of  his  own  productions,  and  then  real- 
izing but  a  small  minimum  profit  as  an  individual, 
and  nothing  at  all  nationally  speaking,  whilst  Eng- 
land rolls  in  wealth  !  Let  us  have  our  work-shops 
abroad,  said  the  worst  politician  that  ever  a  nation 
was  cursed  with.  We  have  them  abroad,  by  his 
influence  mainly,  and  our  masters  are  there  too ; 
for  we  have  been  all  the  time  dependent  on  them 
for  our  necessaries.  As  well  might  we  say,  let  our 
capital  be  abroad,  let  our  liberty,  our  independence, 
be  in  foreign  keeping.     Had  he  lived  to  the  age  of 


NOTES    ON    POLITICAL    ECONOMY.  175 

a  patriarch,  under  full  penitence,  he  could  not  have 
atoned  for  all  the  mischief  he  entailed  on  this  na- 
tion, and  the  disappointment  the  friends  of  liberty 
the  world  over  felt,  and  are  destined  to  feel,  from 
his  visionary  acts  and  policies. 

France,  France  is  a  rich,  cultivated,  comfort- 
able, and  luxurious  country,  and  rendered  so  by 
her  manufactures.  She  had  not  the  commercial 
advantages  of  England,  nor  her  free  institutions, 
when  she  most  needed  them  to  start  even  with  her 
rival.  France  found  a  vast  resource  in  her  home 
market,  which  she  leaned  on  for  the  first  ages  of 
her  manufactures.  She  had  also  much  better 
agricultural  products  and  in  more  abundance  than 
England.  France  had  her  wine,  and  oil,  and  silks, 
as  well  as  her  corn,  and  meats,  and  forests,  and 
fisheries,  to  make  valuable  interchanges  at  home. 
Her  provinces  were  to  one  another  pretty  much  as 
foreign  countries  are  to  each  other,  and  carried  on 
a  vast  trade  within  her  own  bosom.  She  had  a 
valuable  raw  material  in  silk,  as  well  as  wool, 
plaster  of  Paris,  iron,  and  many  others.  If  her  first 
efforts,  like  England,  had  built  harbors,  established 
commerce,  uncovered  iron  and  coal,  and  taken  hold 
of  the  foreign  markets  and  controlled  their  supplies, 
she  would  have  been  as  rich  as  England,  and  shared 
the  world  with  her.  She  lacked  then  the  free  in- 
stitutions, the  principles  of  justice,  the  intelligence, 
and  corresponding  enterprise,  necessary  to  such  a 
rivalry.  She  was  so  many  ages  building  up  free 
and  unshackled  institutions,  and  gaining  the  spirit, 


176  NOTES    ON    POLITICAL    ECONOMY. 

and  intelligence,  and  ambition  of   commerce  and 
capital,  that  England  had  the  start  of  her  too  far 
to  be  overtaken  or  even  imitated.     The  supplying 
of  the  home  market  and  interchanges  in  France 
has  made  her  comfortable,  luxurious,  and  indepen- 
dent ;  and  the  surplus  goods  and  productions  that 
she  exports,  though  small  compared  to  England, 
are  making  her  rich ;  for  she  has  an  income,  over 
and  above  supplying  herself,  of  fifty  million  dollars 
annually.     In  this  latter  respect  she  is  better  off 
than  we  are,  who  have  no  income,  as  we  showed, 
after  meeting  our  own  wants.     England,  by  esti- 
mate, has,  and  can  command  in  money  capital,  one 
hundred  times  as  much  as  France,  in  any  year,  or 
at  any  time.     Capital  is  so  meagre  and  scarce  in 
France,  that  no  great  objects  can  be  accomplished 
without  aid  from  England  ;  no  stock  companies,  no 
extensive  loans ;  all  is  on  a  small  scale,  cautious, 
and  fearful.     She  either  wants  capital  vastly,  or 
spirit,  ambition,  and  enlightened  policy,  to  wield  it. 
England  never  slumbered  when  her  interests  could 
be  benefited  or  extended  ;  in  peace,  she  was  wide 
awake ;  in  w^ar,  she  never  forgot  her  best  profits, 
nor  her  best  markets.     Bonaparte  was  absorbed 
in  his  own  ambition,  and  carried  France  and  all 
her  resources  into  that  channel   with  him.      He 
stimulated  nothing  but  empty  glory  ;  he  developed 
nothing  but  munitions  of  war ;  he  built  no  roads, 
and  made  no  intercommunications,  but  such  as  led 
to  conquest  and  battle  ;  he  left  no  monuments  but 
the  Place  Vendome,or  the  Elephant  Fountain,  both 


NOTES  ON  POLITICAL  ECONOMY.       177 

more  in  memento  of  his  folly  than  his  patriotism ; 
for  his  great  road  over  the  Simplon  is  the  property 
of  Sardinia.  He  left  the  corn  and  wine  districts 
unconnected,  which  of  all  others  need  interchanges 
the  most:  he  left  the  coal  and  iron  undeveloped, 
the  only  sure  basis  for  manufactures,  national 
wealth,  and  independence ;  and  manufactures,  in 
the  turmoil  of  war,  either  suffered  stagnation  or 
abandonment.  France,  however,  is  a  happy  coun- 
try, and  wants  nothing  from  foreign  lands  but  a  few 
raw  materials  and  tropical  luxuries.  Her  own  bo- 
som is  so  broad  and  deep  that  thousands  of  inter- 
ests lie  nestled  there,  and  give  to  her  great  variety 
in  her  own  productions  and  interior  commerce. 

Holland.  Holland  now  reposes  upon  her  with- 
ered laur'els  as  to  capital  and  manufactures  ;  is  rich 
from  the  past,  and  snug  in  her  economies,  finished 
comforts,  and  works.  She  manufactures  not  only 
up  to  her  own  supply,  but  has  a  large  surplus  for 
her  millions  of  subjects  in  her  Asiatic  islands  and 
the  Indies.  Although  her  income  is  small  and  her 
surplus  capital  annually  not  large,  with  her  finish- 
ed economy  she  is  all  the  time  growing  rich.  Like 
England  she  pushed  out  her  commerce  under  free 
institutions  and  an  intelligent  spirit,  not  only  to 
trade  in  and  support  her  manufactures,  but  to  grasp 
the  riches  of  the  Indies.  She  at  one  time  was  not 
only  the  rival  of  England,  but  threatened  to  extin- 
guish her,  and  it  became  a  struggle  of  life  and 
death  between  them ;  the  markets  of  the  world 
were  the  prize  for  which  they  fought — a  very  ex- 

13 


178       NOTES  ON  POLITICAL  ECONOMY. 

istence  the  object.  England  prevailed ;  Holland 
sunk  back  into  a  second  rate  power,  and  became 
content  in  following  England  and  picking  up  the 
scattered  crumbs  of  wealth  and  commerce  that  she 
left.  Her  situation  has  brought  her  much  wealth 
from  Germany.  The  Rhine,  the  sea,  her  economy, 
her  Indian  productions,  her  capital,  but  above  all, 
her  manufactories,  made  and  keep  her  rich.  She 
caught  the  mantle  of  manufactures  as  the  Flemish 
and  Belgians  dropped  it,  and  improved  upon  them. 
Flanders,  failing  to  have  any  government  until 
lately,  prostrated  her  pretensions,  and  her  skill  and 
artists  took  refuge  in  Holland  and  flourished.  Hol- 
land has  given  to  the  world  a  pleasing  and  useful 
lesson,  not  only  in  economy,  but  that  persevering 
industry  that  knew  no  relaxation,  that  admitted  of 
no  idleness  or  unproductive  capital ;  the  very  sea 
yields  to  her  labors,  the  very  winds  are  made  to 
work. 

Siceden^  etc.  Sweden  has  a  vast  resource  in 
her  iron.  It  procures  for  her  an  income,  and  ena- 
bles her  to  purchase  what  raw  materials  she  needs, 
and  her  home  market  is  supplied  by  her  own  indus- 
try. She  has  not  income  enough  to  enrich  herself, 
but  sufficient  for  her  comfort  and  even  luxury, 
Denmark,  Prussia,  Austria,  Hanover,  Bavaria,  have 
no  income  beyond  what  supplies  their  wants.  They 
have,  however,  secured  to  their  people  the  home 
market,  and  are  snug  and  comfortable,  but  rather 
poor  nations.  They  stand  on  the  same  footing  of 
this  country,  without  any  surplus  income.     They 


NOTES    ON    POLITICAL    ECONOMY.  179 

sell  enough,  however,  of  provisions  and  some  raw 
materials  to  purchase  all  they  want,  and  without 
advancing  in  the  accumulation  of  capital,  or  retro- 
gading  in  the  arts,  are  happy  and  contented.  The 
ZoUvarien,  or  Customs'  Union,  will  stand  Germany 
on  a  better  footing,  and  enrich  her. 

Russia.  Russia  scarcely  sells  enough  of  her 
own  productions  to  supply  herself  with  the  many 
necessaries  and  luxuries  that  she  needs  and  does 
not  make.  Hence  many  parts  of  her  vast  empire 
are  laboring  under  privations,  and  many  of  her 
subjects  semi-barbarous,  because  they  have  not 
wherewith  to  gratify  a  taste  for  improvements  and 
the  elegances  of  life.  The  emperor  has  been  too 
much  taken  up  with  his  own  ambition,  and  the  un- 
wieldy and  disjointed  parts  of  his  heterogeneous 
dominion,  to  be  able  to  develope  the  arts  and  estab- 
lish manufactures,  even  up  to  the  home  supply. 
His  powers  of  combination  cannot  embrace  such 
an  unbounded  space.  No  one  plan  or  policy  can 
be  applied  to  such  widely  different  climates,  inter- 
ests, and  tongues.  Before  any  general  system,  no 
matter  how  w^ell  matured,  can  cover  so  many  lati- 
tudes, it  evaporates  and  is  lost.  The  Russ  knows 
not  the  feelings  and  wants  of  the  Cossack,  nor  the 
Tartar  of  the  Calmuck,  nor  the  Fin  of  the  Pole, 
nor  the  Courlander  of  the  Siberian ;  all  must  be  a 
random  shot,  a  w^ork  of  chance,  that  developes  any 
resource,  or  that  hits  any  interest,  in  such  a  varied, 
such  a  wide-spread  region.  Such  a  giant  must  be 
stimulated  a  limb  at  a  time,  and  dressed  up  with 


180  NOTES    ON    POLITICAL    ECONOMY. 

the  proper  appliances  in  the  same  way.  Were  in- 
tercommunications established  between  her  dis- 
jointed parts,  and  the  proper  developments  made, 
an  extensive  home  trade  and  barter  would  spring 
up  between  the  parts  that  produce  so  differently, 
and  have  such  different  habits  and  wants.  The 
vassals  and  serfs  might,  under  her  absolute  power, 
be  brought  in  and  made  into  manufacturers,  that 
would  not  only  supply  themselves,  but  have  much 
surplus.  The  hemp,  corn,  and  iron,  enable  her  to 
buy  much  from  abroad,  and  would  enrich  her,  if 
she  made  her  own  supplies  and  enjoyed  this  as  an 
income. 

Small  Powers.  The  small  powers  of  Europe, 
such  as  Hamburgh,  Bremen,  Frankfort,  Ratisbon, 
Saxony,  Switzerland,  are  rich  from  long  establish- 
ed manufactures  and  commerce.  They  have  con- 
fined territories,  are  without  agricultural  products, 
and  have  found  it  to  their  interest  to  lean  on  and 
give  all  possible  protection  to  those  branches.  The 
Hanseatic  portion  have  from  times  immemorial  been 
commercial.  That  neutral  character  and  exemp- 
tion from  war,  aided  by  their  free  institutions  that 
were  early  conceded  to  them,  redounded  to  their 
emolument,  and  insured  them  wealth  and  consider- 
ation. In  the  turbulent  times  of  Europe,  glimpses 
of  Asiatic  luxuries  were  caught  by  the  European 
savages,  as  they  then  were ;  and  the  wish  to  have 
them  became  so  strong  that  a  sacred  route,  thread- 
ing these  towns,  was  allowed  to  them  to  enter 
through,  without  the  risk  of  the  wars  and  rapine 


NOTES    ON    POLITICAL     ECONOMY.  181 

that  then  seized  upon  all  the  avenues  of  trade  and 
commerce.  Under  these  immunities,  those  towns 
accumulated  and  saved  capital  enough  to  give  them 
influence  and  some  control  in  the  affairs  of  the  Ger- 
manic body.  That  capital  has  swelled  by  savings, 
until,  in  the  hands  of  the  Rothschilds  and  other 
capitalists,  it  subserves  many  great  purposes  in 
Europe.  The  citizens  of  these  free  towns  were  all 
the  time  realizing  the  w^rought  values,  whilst  the 
boorish  Germans  around  them  were  hardly  enjoy- 
ing the  ravr.  The  surpluses  of  these  towns,  doubled 
by  trade  and  commerce,  though  small,  would  not 
fail  in  five  or  six  centuries  to  enrich  such  mere 
handfuls  of  population.  Switzerland,  by  having 
no  idle  persons,  without  any  agricultural  products 
beyond  their  own  brown  bread,  hasgrow^n  comfort- 
able and  almost  luxurious.  Without  communica- 
tions by  navigation  or  easy  routes  with  Europe,  she 
gave  a  lightness  and  elegance  to  her  labor  in 
the  shape  of  fine  and  tasteful  articles,  that  enabled 
them  to  bear  even  mountain  transportation,  and 
find  and  reach  a  consuming  market.  Her  small 
annual  supplies,  with  her  deep  and  available  econ- 
omy, has  almost  enriched  her.  She  is  independent, 
and  supplies  all  her  own  wants  in  addition. 

Italian  States.  The  Italian  States  cover  their 
own  ground  and  wants,  and  have  among  themselves 
markets  and  interchanges  enough  to  insure  the 
comfort  and  the  luxury,  if  not  the  wealth,  of  all. 
They  have  a  fine  climate,  and  many  valuable  pro- 
ductions, which  find  a  market,  and  give  the  means 


182  NOTES    ON    POLITICAL    ECONOMY. 

of  some  accumulation,  particularly  in  the  northern 
parts  of  the  peninsula.  The  fine  arts  have  done 
much  for  them,  and  given  them  income  and  curren- 
cy, as  well  as  fame  and  refinement.  The  southern 
parts  of  Italy,  Rome  and  Naples,  and  we  may  in- 
clude the  Grecian  States,  are  so  steeped  in  supersti- 
tion and  indolence,  that  they  have  no  income,  and 
no  ability  to  purchase  from  abroad.  They  have, 
therefore,  to  live  in  a  hand-and-mouth  meagre  w^ay 
within  their  own  little  means,  consuming  but  little 
in  goods,  and  less  in  provisions  and  raw^  materials. 
Taste  and  refinement  have  been  so  long  shedding 
their  influences  upon  those  districts,  that  in  their 
very  poverty  and  rags  they  manifest  a  people 
above  their  situation,  abused  in  politics,  and  they 
in  turn  abusing  and  misusing  their  fine  country  and 
its  natural  advantages. 

Spain.  vSpain  presents  a  fine  country,  full  of 
resources  and  every  sort  of  advantages,  worn  down 
to  a  mere  skeleton  by  the  operation  of  the  worst, 
most  versatile,  and  despotic  government  that  has 
ever  afilicted  Europe.  No  fixed  policy,  except  the 
impoverishing  one  of  buying  abroad  to  supply  want, 
has  ever  marked  her  course.  She  is  now  without 
income,  or  any  commerce  or  manufactures  that  can 
create  one ;  and  hobbles  on,  half  supplied  by  her 
own  miserable  and  unprotected  industry.  She 
lives,  in  the  midst  of  great  natural  resources,  in 
poverty ;  and,  when  all  the  world  is  advancing  in 
w^ealth  and  comfort,  she  is  either  stationary,  or,  even 
worse,  falling  back   into  almost  a  savage  state. 


NOTES    ON    POLITICAL    ECONOMY.  183 

Her  lead,  her  silk,  oil,  fruit,  wine,  and  mineral  pro* 
ductions,  as  well  as  all  her  agriculture,  are  so  much 
neglected  that  they  give  her  but  little  means  to 
supply  the  thousand  wants  that  she  does  not  meet 
at  home,  and  she  is  left  in  a  state  of  worse  than 
privation.  She  furnishes  a  striking  example  of 
how  poor  a  country  attempting  to  buy  all  abroad 
becomes,  and  how  helpless  from  habit  and  neglect. 
Her  rich  colonies,  that  poured  into  her  bosom  the 
precious  metals,  have  set  up  for  themselves,  and 
these  treasures  have  passed  into  other  and  more 
efficient  hands.  Portugal  retains  some  fragments 
of  her  old  trade,  and  under  the  patronage  and  dic- 
tation of  England,  contributes  much  to  the  wealth 
of  her  protector.  She  has  almost  no  manufac- 
tures ;  her  commerce  carried  on  in  foreign  bot- 
toms, and  her  valuable  wines,  fruit,  salt  and  min- 
erals, under  the  control  of  England.  She  is  poor 
and  without  income,  and  has  to  limit  her  wants  to 
the  scantiness  of  her  means,  and  the  unavailing  or 
unproductive  nature  of  her  labor. 

Spanish  Americas.  The  Spanish  Americas  lean 
on  the  mines  that  lie  in  their  bosom,  and  buy  their 
necessaries  and  luxuries  with  their  products,  as  far 
as  they  go,  without  any  effort  at  manufactures  or 
aim  to  supply  their  wants  at  home.  They  buy  up 
to  their  means,  and  do  without  the  rest.  They 
have  inherited  and  retained  all  the  indolence  of  the 
mother  country,  and  enough  of  her  pride  to  render 
them  totally  inefficient.  They  will  bury,  or  rather 
keep  buried,  the  talent  nature  gave  them,  and  ex- 


184  NOTES    ON    POLITICAL    ECONOMY. 

hibit  to  the  world  a  people  trying  to  be  free,  with- 
out the  capacity  to  insure  it,  and  owning  a  country 
abounding  in  all  the  productions  dear  to  man,  as 
well  as  underlaid  with  all  the  valuable  resources, 
without  industry,  skill,  or  intelligence,  necessary  to 
develope  them. 

Brazil  and  Cuba,  Brazil  and  Cuba  lean  upon 
slavery,  and  have  most  valuable  staples  through 
their  operations.  They  have  rich  and  available 
productions,  mostly  tropical  luxuries,  that  all  Eu- 
rope needs  and  consumes,  and  fails  not  to  go  after 
and  secure.  These  regions  eschew  commerce,  and 
lose  all  the  profits  that  are  incident  to  trade.  They 
merely  sell  at  their  own  ports  these  valuable  sta- 
ples, at  such  price  as  foreigners  choose  or  can  af- 
ford to  give  or  pay  for  them.  The  great  incomes 
they  enjoy  are  not  available  as  money  accumu- 
lated, but  all  go  into  more  slaves,  with  a  view  to 
an  increased  product.  Such  an  investment  may 
be  regarded  as  an  evil,  and  one  that  will  sink  them 
still  deeper  into  disgrace  and  embarrassment,  when 
time  shall  have  pronounced  upon  it.  When  the 
bubble  bursts,  they  will  find  themselves  like  Hayti, 
without  any  wealth  or  improvements,  and  in  place 
of  them  a  worthless,  degraded,  savage  population  ; 
a  population  that  ceases  to  produce,  not  only  the 
staples,  but  the  comforts  of  life,  as  soon  as  the  whip 
of  the  master  is  lifted  from  them.  Hayti  and  the 
British  islands,  and  Caraccas  or  Laguira,  show, 
and  will  prove,  that  slaves,  when  let  free,  are  to- 
tally unavailable;    have  not  industry  enough  to 


NOTES    ON    POLITICAL    ECONOMY.  185 

make  themselves  decent,  much  less  to  cultivate  the 
staples ;  and  return  to  the  savage  state  too  rapidly 
for  any  policy  to  arrest  them,  and  direct  them  into 
the  proper  channels.  Too  ignorant  to  have  any 
inherent  impulses  that  will  either  form  a  good  gov- 
ernment, or  originate  and  obey  any  wise  policy. 
When  the  weight  of  ownership  is  lifted  from  such 
an  arch,  it  crumbles  to  pieces,  and  the  whole  in- 
terest falls  to  the  ground.  When  the  stimulus  of 
the  whip  is  withdrawn,  there  remains  nothing  to 
supply  its  place. 

Asia.  It  is  scarcely  worth  while  to  travel  into 
Asia  or  Egypt.  Their  habits  are  peculiar,  and 
their  wants  but  few.  They  run  upon  extremes  in 
their  consumption.  The  few  lords  and  governors 
are  luxurious;  the  millions  of  subjects  and  slaves 
want  the  least  possible,  both  in  provisions  and 
clothing.  Despotism  and  rapacity  preclude  all 
regular  culture  or  operations  based  upon  a  regular 
investment  or  commerce.  What  little  capital  they 
possess  they  hide  and  bury,  to  preserve  from  rapa- 
city ;  and  what  enjoyments  they  have  are  by 
stealth.  Egypt  knows  but  one  big  slave-owner, 
one  master,  who  cultivates  cotton  as  a  staple,  and 
sells  it  on  his  own  account,  for  a  lordly  income. 
There  is  no  hope  for  people  steeped  both  in  igno- 
rance, slavery,  and  superstition,  especially  when 
you  superadd  indolence  and  a  total  destitution  of 
pride  and  ambition.  There  are  no  guarantees  there 
for  either  persons  or  property,  and  nothing  worthy 
of  any  people  can  hope  to  succeed  or  be  attempted. 


186  NOTES    ON    POLITICAL    ECONOMY. 

Ilindostan.  When  we  push  over  further  into 
Asia  and  reach  Hindostan  and  the  Scinde,  all  is 
quiet  under  the  leaden  and  steady  purposes  of 
England,  and  bend  to  her  will.  The  country  has 
a  vast  population  and  great  resources,  but  without 
factitious  wants,  or  with  but  little  ability  to  con- 
sume ;  none  where  things  have  to  be  purchased. 
England  deserves  great  credit  for  staying  the  hand 
of  rapacity,  petty  discords,  and  exterminating  w^ars, 
that  swept  through  that  land  like  a  tornado,  and 
threatened  all  property  and  all  persons.  She  found 
the  people  poor,  without  much  capital,  and  with 
few  wants  ;  and  though  she  has  hushed  the  strife, 
it  is  a  dead  and  listless  calm.  So  low  have  those 
people  sunk  in  the  scale  of  degradation,  that  no- 
thing can  raise  them  ;  so  steeped  are  they  in  indo- 
lence and  superstition,  that  nothing  can  stimulate 
them;  so  few  are  their  wants,  that  nothing  can 
induce  consumption ;  so  ignorant,  that  no  light  can 
illuminate  such  darkness.  They  oppose  no  oppo- 
^sition  to  English  measures,  yet  aid  nothing  in  ef- 
fectuating them.  All  that  political  economy  that 
would  premise  industry  and  improvements,  and 
base  itself  upon  the  natural  or  artificial  resources 
of  the  country  must  fail,  for  there  is  no  wisdom  to 
see  it,  no  ambition  to  excite,  nor  energy  to  effectu- 
ate any  thing  available,  or  produce  any  result  that 
would  go  to  ameliorate  that  people  or  that  country. 
They  however  make  up  in  the  millions  of  persons 
for  the  smallness  of  their  wants,  for  their  total  in- 
efficiency, and  in  that  way  does  England  find  some 


NOTES    ON    POLITICAL    ECONOMY.  187 

resource  in  them  as  subjects.  England  has  not 
acted  with  her  usual  foresight  in  her  govern- 
ment of,  and  policy  towards,  that  people.  Had 
she,  by  force  if  necessary,  destroyed  the  fixed- 
ness of  her  casts,  wrapped  her  in  European  cos- 
tumes, created  new  w^ants  in  her  consumptions, 
stimulated  her  pride  and  ambition,  and  placed  this 
huge  multitude  on  the  high  road  to  civilization  and 
improvement,  all  that  is  productive,  and  industri- 
ous, and  enriching,  would  have  followed  as  a  mat- 
ter of  course.  England  w^ould  then  have  insured 
to  herself  a  leverage  that  would  have  moved  both 
the  old  world  and  the  new.  All  the  tropical  luxu- 
ries, all  the  great  raw  staples  would  have  teemed 
forth  and  filled  the  demands  of  England  up  to  any 
increased  point,  and  correspondingly  have  con- 
sumed of  English  manufactures,  until  her  mar- 
kets would  have  been  quadrupled.  The  military 
chieftains  that  have  issued  forth  from  England 
and  governed  Hindostan  for  the  last  fifty  years, 
have  regarded  the  diamonds  and  rupees,  and  their 
own  personal  emolument,  rather  than  the  para- 
mount good  of  England.  They  thought,  when  they 
gained  territory,  it  w^as  enough,  without  looking  to 
the  productions,  resources,  and  consumptions  of  that 
territory.  They  thought  that  when  they  counted 
millions  of  subjects  it  was  all-sufiicient.  They  re- 
ceived the  vast  frame  exhausted  and  degraded,  and 
applied  no  remedies  to  resuscitate  and  exalt  it. 
They  were  willing  to  stand  by  and  see  the  cross 
trampled  on ;  Juggernaut  ride  over  the  land,  and 


188  NOTES   ON   POLITICAL    ECONOMV. 

funeral  pyres  inwrap  in  their  flames  the  innocent 
victims,  provided  they  got  honors,  wealth,  and 
votes  of  thanks  in  the  British  Parliament.  The 
Hindoos,  accustomed  to  rapine  and  plunder,  await- 
ed and  expected  it  from  their  English  conquerors ; 
and  instead  of  hailing  the  forbearance  from  these 
scenes  as  the  foundation  of  a  new  and  better  state 
of  things,  and  as  guarantees  of  security,  rather  had 
a  contempt  for  any  conqueror  that  had  not  the  pol- 
icy to  depredate,  the  will  to  force  and  appropriate 
every  thing.  It  lulled  them,  instead  of  stimulating 
them  to  wealth  and  productiveness.  Old  treaties 
or  arrangements  go  to  prove  that  the  rajahs  and 
little  kings  purchased  wuth  sacks  of  rupees,  dia- 
monds, and  rubies,  the  right  to  retain  their  religion 
in  its  horrid  features,  and  to  continue  their  rapa- 
city upon  their  subjects  in  many  cases.  England 
cuts  not  off  the  thousand  heads  of  this  Hydra  of  su- 
perstition, but  lets  them  hiss  and  poison  still  the 
very  fountains  of  human  industry  and  availability. 
Instead  of  awakening  confidence,  by  direct  and  im- 
mediate protection,  she  left  the  population  still  sub- 
ject, in  many  districts,  to  their  own  lawless  and  ra- 
pacious rajahs  and  kings.  England  did  in  this  way, 
and  through  such  measures,  what  she  dared  not  do 
herself  in  any  direct  way.  She  saw  the  people  so 
poor  that  no  system  of  taxation  based  upon  Euro- 
pean justice  and  humanity  could  force  out  of  them 
large  sums  of  money,  and  intervened  the  native 
governors  to  do  the  dirty  and  despotic  work.  Now 
when  the  clouds  are  dispelled,  and  English  author- 


NOTES    ON    POLITICAL   ECONOMY.  189 

ity  established  beyond  all  hazard,  why  does  she 
not  new-model  those  people,  and  insure  some 
change  in  their  habits,  customs,  casts,  and  society, 
with  a  view  to  their  amelioration  and  advance- 
ment 7  When  one-tenth  part  of  the  population  of 
the  globe  is  thrown  by  the  God  of  nature  and  the 
chances  of  war  under  the  control  and  guardianship 
of  any  power,  a  sacred  duty  devolves  on  that  pow- 
er to  do  something  for  their  improvement  and  hap- 
piness. 

China,  China  presents  a  case  every  way 
anomalous  and  peculiar.  She  has  grown  comfort- 
able and  even  wealthy,  in  the  long  run  of  her  ex- 
istence, on  the  home  trade  principally  ;  aided,  how- 
ever, within  the  last  hundred  years,  by  an  export 
of  tea  and  manufactures ;  or  rather  a  sale  of  them 
to  Europeans  in  her  own  ports.  She  has  bought 
nothing  from  abroad  until  lately,  when  the  eternal 
embargo  has  been  lifted  in  part,  by  British  enter- 
prise and  intrepidity.  She  stands  ready  now  to 
trade  with  the  world  on  terms  that  will  benefit 
others  more  than  herself.  She  knew  not  what 
European  and  American  skill  could  accomplish, 
aided  as  it  is  by  machinery,  and  could  not  imagine 
the  cheapness  with  which  they  can  supply  her,  at 
the  expense  of  her  own  industry.  A  people  so 
teeming  with  cheap  labor  as  China,  ought  to  buy 
nothing  from  abroad.  Had  she  continued  the  sale 
of*  tea  and  toys  in  her  own  ports,  for  cash  only,  she 
would  have  had  all  the  time  a  good  income,  which 
to  a  nation  buying  nothing  soon  counts  wealth  and 


190  NOTES    ON    POLITICAL    ECONOMY. 

accumulates  capital.  European  and  American 
skill  will  run  her  down,  and  produce  still  more  of 
distress  than  her  overloaded  population  already 
exhibits.  She  has  been  thousands  of  years  in  ac- 
cumulating her  present  scant  capital;  and  unless 
she  restricts  her  trade  and  resolves  to  buy  nothing, 
she  will  soon  lose  it  all ;  because  when  a  people 
are  at  liberty  to  buy  foreign  articles,  and  find  them 
cheaper  and  better  than  their  own,  they  will  soon 
lay  out  the  ready  cash  they  may  have  on  hand. 

The  trade  and  commerce  of  the  world  are  des- 
tined to  be  confined,  in  the  nature  of  things,  to  the 
interchange  of  such  raw  materials  and  productions 
as  cannot  be  raised  or  produced  by  any  people  at 
home.  The  time  is  coming,  if  not  already  at  hand, 
when  no  article  of  manufacture  will  be  purchased 
from  abroad,  in  any  civilized  country.  There  will 
be  labor  and  skill  enough  in  all  to  produce  each 
and  every  article,  whether  of  necessity  or  luxury, 
and  it  will  be  their  interest  and  duty  both  to  do  it. 
The  improvements  in  machinery  of  the  labor-sav- 
ing sort  will  be  so  perfect,  that  a  very  small  por- 
tion of  the  population,  and  that  of  the  weakly  sort, 
will  be  able  to  manufacture  every  thing  that  people 
want.  This  will  be  done  without  abstracting  too 
much  labor  from  agriculture  and  the  production  of 
raw  materials,  or  at  all  diminish  or  jeopardize  those 
great  interests.  More  skill,  and  labor-saving  ma- 
chinery too,  aided  by  chemistry,  will  be  applied  to 
the  productions  of  the  soil,  and  increase  those  in  a 
degree  little  thought  of  yet.     The  great  agents  of 


NOTES  ON  POLITICAL  ECONOMY.        191 

steam,  the  gases,  the  atmosphere,  galvanism,  and 
concentrated  chemical  manures,  will  enable  the 
parent  earth  to  produce  ten  times  as  much  food  and 
support  ten  times  as  many  people.  Labor  and 
skill  and  power  are  going  to  increase  faster  than 
the  wants  or  consuinptions  of  the  earth.  This  will 
insure  the  idea  advanced  above,  that  each  and 
every  people  will  make  all  they  want,  especially 
of  fabricated  goods.  This  ultimate  state  that  is 
fast  approaching,  will  put  to  flight  all  the  doctrines 
and  operations  based  on  that  sort  of  political  econ- 
omy that  goes  to  make  one  nation  subservient  to 
another,  or  teaches  how  to  make  labor  more  pro- 
ductive and  cheaper  in  relation  to  foreign  markets 
and  foreign  supplies.  But  one  tariff  law  or  regu- 
lation will  be  known  to  the  statute  books,  that  of 
total  and  absolute  exclusion  of  all  and  every  arti- 
cle fabricated  or  produced,  of  which  the  nation  in 
question  can  make  or  rear.  Until  that  day  ar- 
rives, the  nations  of  the  world  will  struggle  to  un- 
dersell and  overreach  each  other  ;  and  one  portion, 
the  active,  the  free,  the  skilful,  will  grow  rich  and 
absorb  all  the  capital  of  the  world  ;  and  the  igno- 
norant,  the  indolent,  the  badly  governed,  and  the 
weak  powers,  will  stand  exhausted  to  such  a  de- 
gree, that  at  last,  from  very  necessity,  they  will  have 
to  wake  up  and  supply  themselves.  The  two  ex- 
tremes of  rich  and  poor  nations,  or  of  equal  powers 
in  these  respects,  will  all  work  to  the  same  point, 
that  of  supplying  themselves  ;  the  one  from  policy, 
the  other  from  necessity.      In  the  rapid  develop- 


192  NOTES    ON   POLITICAL    ECONOMY. 

ments  now  going  on,  the  time  is  not  very  distant 
when  all  this  will  be  verified.  We  have  now 
tumbled  in  a  hurried  way  through  and  among  the 
nations  of  the  world,  and  taken  a  rapid  birdseye 
view  of  their  situation  and  resources,  and  seen 
plainly  enough  that  they  are  rich  and  comfortable 
and  independent  exactly  in  proportion  to  the  ex- 
tent that  they  have  cultivated  manufactures,  and 
their  handmaid  commerce.  We  have  seen  how 
necessary  a  good  government,  free  institutions,  en- 
lightened statesmen,  sound  and  permanent  policy, 
that  go  to  develope  resources,  manufacture  first 
up  to  the  home  consumption,  and  next  for  all  the 
world  that  are  foolish  enough  to  receive  and  con- 
sume them,  are  to  the  wealth  and  prosperity  of  a 
people.  We  have  seen  how  necessary  an  active 
and  well-protected  commerce  is  to  give  efficiency 
to  the  labor  of  a  people,  and  secure  their  profits 
from  it.  We  have  seen  the  two  extremes  of  capi- 
tal accumulated  until  the  whole  world  is  aflfected 
by  it,  and  a  nation  purchasing  abroad  until  com- 
pletely exhausted.  The  one  that  expends  its  in- 
come in  buying  its  supplies  will  be,  and  must  in 
the  nature  of  things  be  poor.  It  has  to  stand  up 
with  its  earnings,  be  they  much  or  little,  and  hand 
them  over  to  the  one  that  is  promptest  in  supplying 
her.  It  is  surplus  money  that  enriches,  and  if  that 
be  expended  in  buying  goods  or  provisions  instead 
of  putting  it  by  as  made  and  realized,  there  will 
be  no  capital,  and  we  may  add  no  independence. 
Poverty  is  the  eternal  portion  of  such  short-sighted 


NOTES   ON   POLITICAL    ECONOMY.  193 

nations.  We  will  here  stop  to  remark  that,  in  ref- 
erence to  capital,  there  are  three  distinct  grades 
of  nations.  One,  like  England,  eternally  adding  to 
her  capital  by  the  wise  policy  of  buying  nothing 
but  raw  materials  or  tropical  luxuries,  and  selling 
millions  of  her  goods,  and  who  has  got  rich  enough 
under  it  almost  to  buy  the  world.  Another  class, 
as  the  United  States,  has  an  income  that  would  en- 
rich her,  but,  for  the  want  of  a  wise  policy,  has  to 
lay  it  out  annually  to  buy  the  articles  of  necessity 
and  luxury  that  she  does  not  make,  and  will  never 
accumulate  capital,  but  be  always  snug  and  always 
poor.  Another  class,  too  low  to  excite  any  feeling 
but  pity,  that  has  no  income  to  buy  with,  and  is 
only  half  furnished  at  home.  Spain  comes  under 
this,  and  not  only  does  not  accumulate  capital,  but 
is  all  the  time  deteriorating  and  going  backward. 

There  are,  however,  other  modes  of  accumula- 
ting wealth  (not  capital).  A  nation  even  when 
she  expends  all  her  monied  capital  in  purchasing 
supplies,  is  realizing  something  in  the  shape  of  im- 
provements. This  is  the  result  of  labor  exerted  at 
home.  The  United  States,  for  instance,  have  made 
canals,  roads,  steamboats,  towns  and  cities,  new 
farms,  founded  institutions,  and  a  thousand  things 
that  are  the  result  of  labor,  yet  not  in  the  shape  of 
available  capital  or  actual  accumulations  of  money. 
The  very  interchanges  of  labor  effect  much  of  this 
sort  of  realization,  for  houses  are  built  by  the  ex- 
change of  labor  between  the  different  mechanics 
concerned,  as  masons,  carpenters, lumbermen,  paint- 

14 


194  NOTES    ON   POLITICAL   ECONOMY. 

ers,  smiths,  and  sometimes  the  farmer.  Roads, 
canals,  bridges,  and  such  improvements,  are  the 
work  of  joint  labor,  or  stock  companies.  Books 
are  printed,  clothes  made,  tools,  and  many  perma- 
nent fixings  got  up  by  a  mutual  operation  of  me- 
chanics and  farmers.  Were  it  not  for  this  kind  of 
realization,  things  in  such  a  country  could  not  be 
kept  up.  It  is  meeting  the  natural  wear  and  tear 
of  time,  and  making  and  constructing  such  things 
as  a  natural  increase  of  population  requires  for  its 
accommodation. 


CHAPTER    XXII. 


POOR    LAWS. 


The  poor  laws  are  a  subject  of  deep  interest  to 
political  economists.  All  writers  now  are  agreed, 
and  experience  proves  the  fact,  that  poor  rates  cre- 
ate pauperism — that  this  eating  moth  is  fed  by 
these  laws,  and  knows  no  limit  but  the  fund  set 
apart  for  its  support.  I  have  showed,  in  preceding 
chapters,  that  even  in  England  the  poor  have  been 
hatched  into  existence  by  the  poor  laws  and  poor 
rates.  These  rates  are  the  boxes  prepared,  and 
the  swallows  are  sure  to  fill  and  occupy  them 
to  the  last  hole.  The  moment  that  portion  of 
mankind  naturally  worthless,  indolent,  low  spirit- 


NOTES  ON  POLITICAL  ECONOMY.       195 

ed,  and  inefficient,  find  that  tliey  can  live  without 
labor,  they  will  do  it.  The  moment  an  individual 
is  base  and  mean  enough  to  beg,  or  avail  himself  of 
public  charity,  unless  in  the  shape  of  a  hospital,  he 
is  totally  worthless,  and  sunk  beyond  all  remedy. 
There  is  no  foundation  in  his  case  left  upon  which 
to  build  him  up,  no  pride,  no  self-esteem,  no  ambi- 
tion— in  short,  the  person  is  not  a  man,  but  sunk  to 
the  level  of  the  brute  ;  not  a  biting,  or  venomous 
brute,  but  a  mere  eating  brute.  Humanity  aside, 
it  would  be  to  the  interest  of  society  to  kill  off  all 
such  drones,  get  rid  of  such  excrescences,  and  cast 
off  such  burthens.  No  religion,  no  Howard,  no 
helping  hand,  can  raise  them  one  single  step  in 
the  scale  of  value  and  availability.  The  worst  is, 
that  such  of  that  class  and  calibre  as  have  any 
property  by  accident,  or  by  occasionally  working, 
instead  of  taking  care  of  it,  forthwith  spend  it  and 
frolic  on  it  until  gone,  knowing  that  they  can  lean 
on  the  public  charity  and  find  a  certainty  of  sup- 
port. All  providence,  all  inducement  to  industry, 
and  virtue,  and  economy,  are  lost  and  of  no  avail 
in  such  cases,  and  with  such  people.  The  certain- 
ty of  getting  a  tolerable  support  from  the  public 
destroys  all  exertion,  all  providence.  Dissipation, 
and  particularly  drink,  has  brought  hosts  of  such 
people  to  the  poor-houses.  Had  life  and  existence 
depended  on  their  working  and  saving,  they  would, 
under  these  last  and  most  operative  stimulants  have 
done  it ;  but  as  they  have  the  guarantee  of  a  cer- 


l96  NOTES    ON    POLITICAL    ECONOMY. 

tainty  of  support  in  the  poor  rates,  they  spin  not, 
toil  not. 

It  is  a  very  great  and  important  point,  therefore, 
in  political  economy,  to  know  what  remedy  to  ap- 
ply to  this   ulcer,  this  eating  cancer  of  society. 
There  is  but  one  possible  remedy ;  that  is,  leave 
all  healthy  able-bodied  persons  to  their  own  exer- 
tions, at  all  hazards.     Seeing  no  provision  ahead, 
all  mankind  will  make  an  exertion,  all  will  get 
along,  and  a  great  deal  better  than  they  do  now. 
Better,  if  it  comes  to  the  worst,  let  a  few  perish 
in  the  streets,  than  have  one-twentieth  part  of  man- 
kind  degraded,   rendered  worthless,  and  what  is 
worse,  eating  the  substance  of  the  industrious  and 
valuable  portion  of  the  community.     Every  coun- 
try could  get  over  the  loss  of  one-twentieth  part  of 
its  population  if  an  earthquake  swept   them  off, 
and  would  soon  recover  from  it ;  but  to  have  one- 
twentieth  not  only  lost,  but  fastened  upon  it  as  an 
eternal  eating  moth,  is  infinitely  worse.     It  is  not 
only  that  portion  that  is  lost  but  as  much  more, 
because  it  eats  its  own  bulk  into  the  remaining 
portion  of  the  population.     I  will  venture  an  asser- 
tion that  even  England  would  have  had  no  pau- 
pers worth  talking  about,  if  she  had  not  thus  created 
them  by  her  own  poor-rates.     All  her  population 
now,  without  poor-rates,  would  manifest  some  pro- 
vidence and  industry ;  and  the  thousands  of  men, 
women,  and  children,  who  spend  all  their  money, 
their   character  and  reputation  at  the   gin-shops, 
would  have  had  no   existence  scarcely.      What 


NOTES    ON   POLITICAL    ECONOMY.  197 

a  degrading  and  lamentable  idea,  yet  true,  that 
eight   millions  of  pounds  have  in  one  year  been 
raised  in  England  for  the  poor,  which,  if  taken 
backwards  and  forwards,  amounts  to  the  damning 
fact,  that  that  much  is  taxed  on  the  industry  and 
substance  of  England,  to  support  gin-shops,  gam- 
bling establishments,  and  brothels!     This  sort  of 
dissipation  led  to  it,  and  created  the  necessity  for 
it.     It  behooves  every  young  country,  particularly 
the  United  States,  after  seeing  the  effect  of  this 
system,  and  the  mathematical  certainty  with  which 
it  fills  its  lists,  to  pause  and  take  the  bull  by  the 
horns.    Our  political  economists  ought  to  show  this 
thing  in  its  true  colors,  and  our  politicians  ought 
immediately,  in  all  the  states,  to  repeal  the  poor- 
laws,  and  put  a  stop  for  ever  to  the  growing  evil. 
Why  put  our  shoulders  to  burthens  that  have  al- 
most weighed  down  England,  an  older  and  much 
richer  country  ?    We  are  acting  now  with  our  eyes 
open ;  for  all  writers,  all  statesmen,  and  every  en- 
lightened citizen,  see  and  admit  the  ruinous  ten. 
dency  of  these  poor-laws  and  poor-rates.     Let  us 
have  some  well-regulated  infirmaries  only  for  the 
sick  and  disabled,  and  throw  upon  his  or  her  own 
resources  every  healthy  person.     There  is  no  dan- 
ger of  any  meritorious  person  suffering,  or  dying  for 
want,  in  this  plentiful  country.    If  some  die  from 
dissipation  and  drunkenness,  the  community  is  well 
rid  of  them,  particularly  after  habits  become  con- 
firmed.    Religion  and  a  false  humanity  have  con- 
spired in  keeping  up  the  poor-laws,  and  have  de- 


198  NOTES    ON    POLITICAL    ECONOMY. 

feated  in  it  their  very  purpose,  that  of  saving  man- 
kind, for  they  have  made  thousands  worthless  by 
the  very  operation.  There  is  nothing  like  young 
countries  starting  right  in  these  respects,  because  it 
is  hard  to  get  rid  of  any  system  after  it  becomes 
fastened  on  them  and  a  part  of  their  annual  ar- 
rangements. I  fear  in  this  country  demagogism 
has  much  to  do  with  the  poor-laws  and  rates. 
The  poor  in  some  of  the  states  have  votes,  and  their 
cracked  voice  is  heard  in  the  elections  directly. 
When  this  is  not  the  case,  there  is  an  indirect  in- 
fluence exerted,  because  the  oflfice-holders  like  to 
levy  and  disburse  the  large  funds  raised  for  the 
poor ;  it  gives  them  consequence  and  patronage,  as 
well  as  emolument.  The  poor-lists  are  swelled  by 
such  unworthy  feelings,  and  the  danger  is  that  the 
system  will  be  fastened  upon  us.  The  poor-rates 
will  increase  faster  in  this  country  than  in  Eng- 
land for  the  above  reasons;  all  this  interest  and  all 
this  machinery  contributing  to  it.  These  same 
demagogical  feelings  in  regard  to  the  poor,  build 
for  them  palaces,  and  provide  so  well  for  them, 
that  it  positively  operates  as  a  reward  for  vagran- 
cy, a  bounty  to  laziness  and  vice.  The  poor  live 
better,  are  clad  better,  kept  warmer,  more  pam- 
pered, petted,  and  thought  of,  than  the  industrious 
poor  who  support  themselves.  You  pass  Phila- 
delphia and  New-York,  and  turn  aside  to  examine 
some  large  buildings,  looking  like  palaces  or  some 
great  national  institutions,  and  find  yourself  in  the 
midst  of  three  or  four  thousand  gay,  roystering, 


i 


NOTES    ON   POLITICAL   ECONOMY.  199 

laughing,  lounging,  well-dressed  rascals,  who  seem 
not  to  know,  or  to  forget,  that  there  is  care  on  the 
face  of  the  earth.  You  tax  your  imagination  to 
conjecture  for  what  great  purpose  or  for  what 
great  merit  they  are  cherished  ;  and  what  is  your 
surprise,  when  told  that  they  have  not  fought  for 
their  country,  not  devoted  themselves  to  religion, 
nor  are  gathered  together  to  work  some  factory, 
and  produce  wealth — that  they  are  paupers  !  You 
hear  a  big  bell  ring  soon,  and  go  in  with  the  crowd 
to  a  feast,  a  long  table  set  out  with  viands,  better 
than  a  farmer,  after  all  his  industry,  has  to  feast 
upon.  Your^ears  are  stunned  with  reproaches  and 
complaints  against  the  beef,  the  white  bread,  and 
all  the  laughing  potatoes  and  vegetables  that  are 
loading  the  table,  yet  not  satisfactory  to  these  lazy 
lords.  You  inquire  what  Stephen  Girard  has  built 
this  house  and  spread  all  this  table,  by  a  donation 
of  millions  of  money — for  the  whole  cost  millions — 
and  are  still  more  surprised  when  told  that  all 
these  millions  are  raised  by  taxes  upon  the  indus- 
try and  substance  of  the  land,  to  support  these 
worthless  and  pampered  people.  You  turn  away, 
asking  yourself  the  question.  What  claims  can 
these  people  have  on  the  industry  of  the  country  ? 
If  they  have  any,  all  others  may  have  the  same, 
and  where  is  the  thing  to  end  ?  You  say  this  sort 
of  bounty  to  laziness  is  sure  to  produce  all  possible 
effect. 


200       NOTES  ON  POLITICAL  ECONOMY 


CHAPTER    XXIII. 

SLAVERY. 

Slavery,  as  it  now  exists  in  the  United  States, 
is  calculated  to  exert  a  great  influence  upon  our 
policy  and  future  prosperity.  I  am  not  going  to 
discuss  the  horrors  of  vslavery,  its  moral  turpi- 
tude, nor  whether  it  is  right  or  not.  On  all  these 
points  there  can  be  but  one  opinion,  if  the  thing 
had  to  be  gone  over  again.  I  merely  take  it  as  it 
exists,  as  it  stands  marked  and  fastened  upon  us, 
and  intend  to  show  the  bearing  it  has  upon  our  la- 
bor, markets,  and  productions.  It  is  a  subject  for 
the  inquiry  of  our  political  economists,  before  they 
adopt  any  great  measures  intended  to  affect  our 
labor,  productions,  and  resources.  A  new  and  pe- 
culiar sort  of  labor  is  through  slavery  thrown  into 
the  United  States,  that  is  hard  to  calculate,  and  of 
which  the  effects  are  difficult  to  estimate.  Three 
millions  of  people  or  laborers,  whose  wages  are 
what  they  eat  and  wear  only,  working  under  other 
stimulants  than  their  interests,  and  showing  a 
steadiness  and  unchangeableness  unknown  to  labor 
generally,  cannot  fail  to  produce  such  results  as 
could  not  be  appreciated  by  any  rules  of  a  Smith. 


i 


NOTES   ON    POLITICAL    ECONOMY.  201 

These  laborers  insure  and  perpetuate  themselves, 
and  are  guaranteed  to  the  country  and  their  imme- 
diate owners  by  the  most  sacred  and  fundamental 
laws  of  the  nation.  No  free  labor  can  compete 
with  them,  for  free  labor  must  have  wages  that 
will  bear  the  irregularities  incident  to  all  labor, 
such  as  occasional  relaxation,  illness,  whims, 
changes,  and  dissipations.  The  free  laborers  are 
in  families,  and  useless  mouths  are  to  be  fed, 
houses,  rents,  furniture,  taxes,  doctors'  bills,  all 
amounting  to  some  style  and  a  considerable 
amount,  have  to  be  sustained.  The  slaves  live 
without  beds  or  houses  worth  so  calling,  or  family 
cares,  or  luxuries,  or  parade,  or  show ;  have  no  re- 
laxations, or  whims,  or  frolics,  or  dissipations ;  in- 
stead of  sun  to  sun  in  their  hours,  are  worked 
from  daylight  till  nine  o'clock  at  night.  Where  the 
free  man  or  laborer  would  require  one  hundred 
dollars  a  year  for  food  and  clothing  alone,  the  slave 
can  be  supported  for  twenty  dollars  a  year,  and 
often  is.  This  makes  the  w^ages  of  the  one  forty 
cents  a  day,  of  the  other  six  cents  only.  I  prove 
this  by  the  facts  of  the  case.  The  average  w^ages 
or  price  of  labor  in  the  United  States  is  forty  cents 
a  day ;  in  England,  two  shillings,  and  on  the  con- 
tinent of  Europe  is  about  twenty^five  cents.  As 
far  as  minute  inquiries  go,  the  above  rates  are  cor- 
rect. A  slave  consumes  in  meat  two  hundred 
pounds  of  bacon  or  pork,  costing,  in  Kentucky, 
Ohio,  Indiana,  Illinois,  Missouri,  Tennessee,  and 
Western  Virginia,  $8 ;  thirteen  bushels  of  Indian 


202  NOTES   ON   POLITICAL   ECONOMY. 

corn,  costing  $2 :  this  makes  up  his  food.  Now  for 
salt  and  medicines  add  $1,  and  it  runs  thus:  a 
year's  food  is  $11.  Their  clothing  is  of  cottons — 
fifteen  yards  Lowell,  $1  50 ;  ten  yards  linsey,  $4  ; 
one  blanket,  $2;  one  pair  of  shoes,  $1 — making 
$7  50.  Now  this  sum  of  $18  50,  say  $20,  divided 
among  the  working  days,  is  six  cents.  This  is  not 
fancy,  but  every  day's  practice.  So  the  wages  of  a 
slave  is  one-sixth  part  of  the  wages  of  free  labor- 
ers. If  slave  labor,  therefore,  was  organized  to  the 
best  advantage,  no  free  labor  could  stand  against 
it.  I  have  shown  before  how  well  fitted  slaves 
are  for  manufactories,  and  how  confidential  and 
trusty. 

The  staples  produced  in  this  country  by  slaves, 
say  cotton,  sugar,  rice,  tobacco,  and  hemp,  that 
would  have  had  no  existence  without  them,  for  the 
last  fifty  years,  have  averaged  fifty  million  dollars 
a  year,  which,  in  the  fifty  years,  amounts  to  the 
enormous  sum  of  twenty-five  hundred  millions. 
This  sum  has  been  realized,  and  constituted  nearly 
the  whole  of  our  ability  with  which  to  purchase 
supplies  abroad.  Foreign  nations,  England  more 
than  all  the  others,  have  got,  enjoyed,  and  realized, 
in  the  shape  of  capital,  this  twenty-five  hundred 
million  dollars,  and  we  have  consumed  it,  and  not 
a  vestige  of  it  left  behind.  Had  we  not  possessed 
this  resource,  we  would  have  been  infinitely  better 
off;  and,  instead  of  three  millions  of  slaves  being 
fastened  upon  us,  we  would  have  had  free  people 
in  their  place,  not  growing  these  staples,  but  sup- 


NOTES   ON   POLITICAL   ECONOMY.  203 

porting  themseh'es,  and  adding  real  wealth  to  the 
country,  instead  of  a  mere  capacity  to  consume  and 
thereby  enrich  foreigners.  But  for  this  ability  aris- 
ing from  slave  labor,  enabling  us  to  buy  so  much 
abroad,  we  would  have  been  forced  by  the  neces- 
sity of  the  case  to  supply  ourselves,  and  thus  not 
only  have  established  manufactures,  but  developed 
the  real  resources  and  independence  of  the  coun- 
try.    We  would  have  been  by  this  time  so   far 
advanced  in  skill  and  capital  that,  with  our  intelli- 
gence, industry,  and  enterprise,  aided  by  an  active 
commerce  giving  full  and  efficient  effect  to  them, 
we  might  and  would  have  been  a  wealthy  nation, 
and  been  now  supplying  much  of  the  world  with 
articles  of  our  industry,  skill,  and  taste.     This  peo- 
ple never  would  have  remained  inefficient  had  they 
not  been  flattered  and  lulled  by  the  proceeds  of  this 
slave  labor.     It  employed  our  shipping  and  com- 
merce so  much  that,  by  the  aid  of  our  merchants, 
the  slaveholders  have  governed  the  country,  and 
kept  back  every  other  great  interest.     The  coun- 
try is  now,  or  will  be,  in  a  situation  like  an  annuitant, 
who,  depending  literally  on  the  annuity,  finds,  by 
some  revolution,  that  suddenly  stopped.  When  sla- 
very shall  have  run  itself  out,  or  yielded  to  the  chang- 
es and  ameliorations  of  the  times,  the  owners  and 
all  dependent  upon  it  will  stand  appalled  and  pros- 
trate, as  the  sot  whose  liquor  has  been  withheld, 
and  nothing  but  the  bad  and  worthless  habit  left 
to  remind  the  country  of  its  ruinous  effects.     The 
political  economist,  as  well  as  all  wise  statesmen 


204  NOTES    ON   POLITICAL    ECONOMY. 

in  this  country,  cannot  think  of  any  measure  going 
to  discharge  slavery,  that  would  not  be  a  worse 
state  than  its  existence.  They  must  therefore  pass 
all  laws  necessary  to  control  it,  render  it  harmless 
as  to  outbreaks  and  violence,  and,  if  possible,  make 
an  efficient  labor  for  the  prosperity  of  the  country. 
They  cannot  push  any  farther  the  staples  on  an 
overloaded  and  clogged  market,  and  should,  by  in- 
ducements, divert  a  portion  of  this  slave  labor  from 
them  and  into  manufactures.  There  it  would  begin 
to  count  to  the  country,  and  through  it  not  only  the 
home  supply  be  made,  but  a  surplus  convertible 
into  capital  or  money.  Results  that  would  aston- 
ish the  world  might  be  produced  by  turning  in  the 
surplus  slaves  to  manufactures,  without  diminishing 
one  iota  our  staple  productions.  We  have  already 
proved,  in  a  former  chapter,  that  three  hundred 
thousand  slaves  might  be  taken  from  agriculture 
and  the  staples,  to  their  relief,  and  applied  to  ma- 
chinery. This  amount  of  labor,  on  the  scale  that 
England  and  this  country  work  up  to,  could  pro- 
duce two  hundred  million  dollars  annually.  Their 
productions  in  this  line  would  find  a  market  abroad 
from  their  cheapness,  because  the  character  of  the 
labor  would  be  so  efficient,  and  cost  only  one-sixth 
of  what  other  labor  standing  on  regular  wages 
would  require.  I  repeat,  then,  that  slavery  and  its 
labor  enter  deeply  into  all  projects  relating  to  the 
wealth,  advancement,  and  development  of  this  na- 
tion, and  should  be  regarded  by  our  political  econ- 
omists as  a  powerful  ingredient. 


NOTES    ON    POLITICAL    ECONOMY.  205 


CHAPTER    XXIV 


LABOR,    WAGES,    PROFITS. 


Adam  Smith  and  the  early  writers  on  political 
economy  consider  truly  labor  and  its  wages  as  the 
key  to  all  wealth  and  human  availability.  They 
took  it  for  granted  that  the  wages  of  labor  in  all 
countries  tended  to  find  its  level  and  maintain  an 
equilibrium  in  all  departments  or  employments, 
and  that  any  bounty  made  the  products  of  labor 
permanently  dearer  by  that  much.  They  did  not 
conceive  of  facts  now  abundantly  proved,  that 
whole  departments  of  labor,  or  occupations  where 
an  expensive  outlay  for  machinery  is  necessary, 
remain  whole  ages  untouched  without  some  protec- 
tion or  bounty,  and  that  individual  labor  enters 
them  not  for  the  reasons  given  in  a  former  chapter. 
They  did  not  know  the  fact  that  bounty  or  protec- 
tion induces  so  much  skill  and  competition  that  the 
goods  soon  become  cheaper  than  others  in  propor- 
tion, and  more  than  pay  back  the  bounty.  Con- 
vinced as  they  were,  they  necessarily  were  the 
advocates  of  free  trade,  and  against  all  restric- 
tions. 

In  former  times,  when  the  hands  and  some  sim- 


206  NOTES    ON    POLITICAL    ECONOMY. 

pie  tools  or  fixings  performed  all  the  operations, 
and  labor-saving  machinery  scarcely  existed,  the 
y  wages  of  labor  entered  deeply  into  all  calcula- 
xy  tions,  and  produced  great  results.  Now,  when 
machinery  does  almost  all  the  work,  and  requir- 
ing only  some  skill  to  direct  it,  no  matter  how 
weak  and  delicate  the  hands  may  be,  the  ground 
is  materially  changed.  Mankind,  as  to  labor  and 
its  wages,  stand  so  nearly  upon  the  same  level 
that  the  difference  is  hardly  appreciable.  The 
new  nations,  where  labor  is  scarce  and  somewhat 
dearer,  generally  make  it  up  in  the  greater  fertility 
of  soil,  plenty  of  provisions,  the  possession  of  the 
raw  material,  and  having  few  debts  or  taxes  to 
pay.  They  are  more  enterprising  in  their  char- 
acter also,  spring  quicker  into  new  and  promising 
occupations,  and  have  more  versatility  in  their  pur- 
suits. They  can  afford  to  risk  more  than  old 
nations,  because  they  have  more  recuperative  en- 
ergy and  can  sooner  recover  from  loss.  Old  nations 
are  weighed  down  with  paupers,  tithes,  aristocracy, 
debts,  and  taxes,  all  of  which  circumstances  do 
jiearly  make  up  for  any  apparent  difference  in 
wages.  The  high  vantage  ground  that  capital, 
machinery,  skill,  organization,  and  the  possession 
of  all  the  commercial  agents  and  facilities  give  to  a 
nation,  has  not  been  estimated  high  enough  by  those 
writers  that  go  against  restriction,  protection,  and 
bounties.  It  did  not  enter  into  A.  Smith's  ideas 
that  any  nation  could  keep  those  advantages  under 
the  operation  of  a  free  trade ;  and  that  the  equili- 


NOTES   ON   POLITICAL    ECONOMY.  207 

brium  the  wages  of  labor  tends  to  would  be  inad- 
equate to  countervail  and  equalize  them.     Expe- 
rience now  speaks,  and  the  policy  of  nations  must 
regard   its  voice.     Abstractions   and   theories  go 
along  in  a  straightforward  way,  and  do  not  enough 
regard  the  circumstances  of  nations  to  conform  to 
their  peculiarities,  and  profit  by  their  actual  condi- 
tion  as  to    capital    and   skill.     This   single  fact, 
which  we  now  consider  proved,  that  is,  that  na- 
tions which  have  the  vantage  ground  and  start  will 
keep  it,  seems  to  render  half  the  reasoning  of  these 
writers  of  no  practical  use.     All  they  say  is  in  favor 
of  free  trade  and  against  restrictions.     This  broad 
principle  knocked  away  from  under  them  leaves 
the    most  beautiful  part  of  their  fabric  without 
support,  and  lets  it  tumble  to  the  ground.     Instead 
of  nations  tending  to  the  principles  of  free  trade, 
they  evidently  look  to  total  exclusion.     I  regard, 
then,  all  nations  as  nearly  equal  in  this  respect. 
Young  nations    commit    one  very  common  error, 
that  of  leaning  on  the  provision  and  raw  material 
culture,  and  depending  on  selling  enough  abroad 
to  buy  their  fine  manufactured  articles,  thereby 
losing  all  the  wide  difference  between  the  raw  and 
wrought  values  of  things.     This  gives  to  them  a 
hand-and-mouth  existence,    consuming,    annually, 
their    productions,  and   realizing  nothing    in  the 
shape  of  capital  or  money.     If  they  had  set  out  by 
supplying  their  own  consumption,  and  bought  no- 
thing from  abroad — even  if  they  had  sold  but  little 
or  less  raw  material  to  foreign  countries — they 


208  NOTES    ON    POIilTICAL    ECONOMY. 

would  have  been  accumulating  all  the  time,  and 
gradually  realizing  available  capital  in  the  shape 
of  money.  The  people  who  live  in  an  old  nation, 
where  every  ground  is  preoccupied,  and  no  changes 
from  father  to  son  in  their  pursuits,  are  less  enter- 
prising, because  they  are  afraid  to  risk  any  thing  ; 
any  loss  would  not  only  jeopardize  but  ruin  them, 
and  lead  to  suffering.  They  cannot  turn  to  other 
things  or  employments  like  a  young,  versatile  peo- 
ple. Success  is  life  or  death  with  them,  bread  or 
starvation,  and  they  stick  to  old  forms,  old  machin- 
ery, and  work  to  a  disadvantage;  which  consid- 
erations make  up  still  more  the  difference  in  wages. 
It  is  not  difference  in  wages  that  determines  nations 
to  one  or  another  course,  but  the  circumstances. 
Young  nations,  by  having  fertile  lands,  and  abun- 
dance of  provisions,  and  raw  materials,  lean  on 
them,  and  go  to  exporting  them  as  their  resources. 
Old  nations,  having  exhausted  these  resources,  and 
finding  the  work  of  their  hands  in  the  shape  of 
manufactures  more  available,  and  ready  sale,  go 
on  increasing  until  they  grow  rich.  Other  nations, 
becoming  scathed  by  superstition  and  despotism, 
and  without  any  guarantee  or  security  for  their 
labor,  sink  into^a  semi-barbarous  state,  do  no  more 
than  the  first  necessity  of  life  absolutely  requires 
of  them,  and  stand  in  the  way  of  no  other  nations, 
neither  as  producers  nor  consumers. 

There  are  two  distinct  sorts  of  laborers ;  the  one 
on  their  own  account,  and  with  their  own  hands 
or  simple  tools,  and  may  be  called  manipulators, 


NOTES  ON  POLITICAL  ECONOMY.       209 

and  own  or  enjoy  all  the  profits;  the  others  work- 
ing under  capital  and  capitalists,  and  are  hirelings 
by  the  day  only,  without  having  any  share  of  the 
profits  beyond  their  w^ages.  The  wages  in  the  one 
case  are  merged  in  the  profits,  in  the  other  stand 
clear,  by  the  day,  week,  month,  or  year.  Competi- 
tion reduces,  very  often,  the  w-ages  of  hirelings 
down  to  mere  support,  or  food  and  clothing ;  then 
it  stands  on  the  same  footing  or  principle  of  slave 
labor,  only  is  more  wasteful,  less  controllable,  and 
becomes  dissipated  and  reckless  when  poor-rates 
are  within  its  reach,  on  wiiich  to  lean  and  depend. 
/In  regard  to  his  own  interest,  there  is  nothing  cre- 
ative in  the  daily  wages  of  the  hireling  w^ho  knows 
his  limit  and  has  no  hopes  beyond  it.  The  mani- 
pulator, or  handicraft  manufacturer,  on  the  con- 
trary, is  all  the  time  creating  and  giving  value  to 
his  labor,  which  he  realizes  as  profiC;  In  all  coun- 
tries do  we  find  the  handicraft  occupations  first  in 
starting  and  subserving  a  country ;  partly  because 
capital  is  not  necessary  to  them,  but  more  because 
all  the  profit  goes  to  the  laborer.  This  class  of 
laborers  often  realize  much,  and  lay  up,  money; 
hirelings  hardly  ever  do  realize  for  themselves,  and 
generally  live  up  to  their  wages,  leaving  all  the 
profits  to  the  capitalist.  It  makes  rather  a  gloomy 
picture  when  we  say  that  (the  tendency  of  things 
the  world  over  is,  that  the  competition  in  labor 
will  bring  down  all  wages  to  bare  subsistence 
and  support,  and  this  with  more  certainty  as  ma- 
chinery becomes  more  perfect  and  is  applied  to 

15 


210  NOTES    ON    POLITICAL    ECONOMY. 

almost  every  purpose.  In  nations  without  capital 
the  handicrafts  are  always  first  to  start  and  do 
well,  because  the  prices  of  the  things  they  make 
have  but  little  control  on  the  laborer,  who  sees 
his  labor  creating  a  value  where  there  was  none 
or  but  little  before;  and  be  that  value  much  or 
little,  it  is  his  own,  and  he  can  afford  it  at  the 
market  price,  whatever  that  be.  Wages,  then, 
may  realize  capital  or  may  not,  according  to  cir- 
cumstances, for  the  laborer;  but  must  be  realizing 
for  the  capitalists  all  the  time,  or  the  whole  opera- 
tions cease.  The  elements  of  wages,  then,  are 
subsistence  first,  which  must  be  had  in  all  cases, 
and  profits  next,  which  must  accrue  to  the  capi- 
talists and  the  handicrafts,  or  they  cease  to  operate. 
The  handicraft  laborers  have  the  advantage  of  scat- 
tering themselves  through  all  countries  among  the 
consumers,  and  can  by  barter  accomplish  much. 
A  farmer  often  will  buy  an  article  when  he  can 
pay  for  it  in  provisions,  when  he  would  not  with- 
out ;  for  then  all  is  completed,  and  none  of  the 
contingencies  of  the  markets  encountered.  The 
value  of  such  small  interchanges  is  much  greater 
and  of  more  consequence  than  they  get  credit  for. 
It  is  on  this  principle  that  you  see  shoemakers, 
carpenters,  brick  and  stone  masons,  blacksmiths, 
tailors,  millwrights,  wagon-makers,  cabinet-mak- 
ers, and  all  such  useful  handicraft  trades  mixed 
all  through  the  country,  and  among  the  farmers, 
mutually  bartering  and  interchanging  their  labors. 
The  great  question  which  must  ultimately  come 


NOTES  ON  POLITICAL  ECONOMY.       211 

home  to  man,  as  to  whether  machinery  ought  to  be 
employed  or  not,  cannot  be  entertained  or  dis- 
cussed, only  of  such  countries  as  China  or  Japan, 
where  labor  teems  enough  to  do  all  the  work  of 
machinery,  and  even  of  beasts,  so  as  to  completely 
banish  both,  and  where  they  count  not  upon,  and 
live  without,  the  trade  and  commerce  of  other  na- 
tions. If  nations  stood  alone,  like  China  or  Japan, 
with  their  full  and  ultimate  population,  and  a  large 
portion  suffering  for  very  subsistence,  then  it  would 
be  better  to  banish  machinery,  and  even  horses, 
and  avail  of  hand-labor,  lest  a  portion  of  food  neces- 
sary to  human  sustenance  be  consumed  by  quadru- 
peds ;  accordingly  those  tw^o  nations  have  done  so. 
Europe,  connected  by  commerce  and  struggling  in 
full  competition,  dare  not  do  it ;  because  the  nation 
that  first  did  it  would  be  thrown  out  of  all  the  mar- 
kets. From  the  foregoing  remarks  there  is  not 
much  advantage  in  a  nation  having  a  dense  popu- 
lation and  surplus  labor  in  manufacturing,  provided 
a  sufficient  number  of  hands  be  found  to  attend 
machinery.  We  should  not  refrain  from  the  estab- 
lishment of  manufactories  fearful  of  wanting  la- 
borers :  present  the  handles  of  machinery,  and  a 
plenty  of  hands  will  be  found  to  take  hold  of  them, 
and  not  only  meet  our  own  supply,  but  the  foreign. 

Labor  is  much  more  efficient  in  some  countries 
than  in  others.  We  have  already  remarked  on  the 
great  action  our  climate  gives  to  us,  and  that  we 
show  it  in  the  management  of  ships,  farming  move- 
ments, manipulations,  and  in  manufacturing.     Our 


212  NOTES    ON   POLITICAL    ECONOMY. 

intelligence  and  free  institutions,  it  has  been  said, 
count  us  largely  in  our  operations,  as  well  as  all 
the  advantages  of  having  the  raw  material,  the 
consuming  market,  and  the  great  abundance  of 
provisions.  Small  advantages  count,  and  I  will 
mention  that  Protestant  countries  find  in  the  year 
thirty  more  days  in  which  to  labor  than  the  Catho- 
lics, taking  into  the  estimate  that  number  of  festi- 
vals  and  holy-days  more  than  the  Protestants  keep. 
This  is  no  small  difference,  and  would  make  up 
the  profits  of  laborers,  and,  other  advantages  being 
equal,  be  sure  to  carry  the  market,  and  stand  them 
on  the  vantage  ground.  Connected  with  this  is 
the  greater  degree  of  ignorance  in  which  supersti- 
tious people  are  immersed,  throwing  them  still  fur- 
ther, relatively,  in  the  back-ground.  In  times 
when  competition  is  full,  commerce  open,  and  mar- 
kets, like  mistresses,  to  be  won  by  skill,  small  ad- 
vantages and  savings  count.  There  are  national 
habits  that  bear  directly  on  wages.  The  people 
of  some  nations  become  accustomed  to  privations, 
have  few  wants,  and  get  along  all  the  time  with- 
out excitement  or  ambition.  In  such  nations  wa- 
ges are  low,  and  kept  so  all  the  time  ;  a  little  mo- 
ney goes  with  such  a  great  way,  and  they,  content 
to  live  in  a  hand-and-mouth  way,  never  accumulate 
capital,  often  stop  work  and  spend  it  when  in 
hand.  The  Italians  and  Grecians  would  be  exam- 
ples of  such  people.  In  such  countries,  although 
wages  are  low  they  do  not  profit  by  it,  for  the 
want  of  energy,  industry,  and  ambition ;  and  are 


NOTES    ON    POLITICAL    ECONOMY.  213 

generally  outstripped  by  bolder  nations,  where 
wages  are  higher,  and  the  mass  of  laborers  feel 
the  force  of  the  excitement  of  the  accummation  of 
capital.  Sterility  of  soil  makes  it  neces^ry  for  a 
people  to  be  moral,  industrious,  and  economical, 
and  therefore  fits  them  admirably  for  successful 
manufacturers.  The  soil  denying  to  them  a  profit, 
they  naturally  betake  themselves  to  fabrications 
and  creations  of  their  own  industry.  The  steadi- 
ness and  high  confidential  character  that  their  mo- 
rality gives  them,  the  shrewd  shifty  cunning  im- 
parted by  their  limited  circumstances,  the  privations 
they  are  accustomed  to,  and  the  few  wants  they 
have,  render  them  irresistible  as  manufacturers, 
and  their  savings  and  profits  accumulate  wealth 
and  capital  rapidly.  They  soon  are  known  and 
felt  in  whatever  market  they  enter,  and  their  goods 
generally  preferred,  for  their  character  is  necessary 
to  their  continued  success.  The  Yankees  and 
Swiss  are  illustrations  of  these  remarks ;  and,  from 
their  barren  rocks  and  mountains,  are  putting 
large  portions  of  the  world  under  contribution. 
Confined  countries  force  their  peopB  also  into  suc- 
cessful manufacturers,  on  a  principle  somewhat 
similar.  No  room  for  agriculture — they  are  oblig- 
ed to  betake  themselves  to  trade  and  manufactur- 
ing ;  and,  after  starting,  go  on,  as  Tyre  and  Sidon  of 
old,  and  Hamburgh,  Bremen,  Frankfort,  Venice 
and  Genoa,  in  modern  times,  and  furnish  striking 
examples.  All  the  instances  that  we  have  given, 
prove  that  the  operations  of  mankind  and  nations 


214       NOTES  ON  POLITICAL  ECONOMY. 

are  very  much  dependent  on  circumstances,  and 
confirm  die  great  principle  or  rule  that  we  set  out 
upon,  thlt  all  political  economy  is  the  creation  of 
circumstances,  and  whoever  undertakes  to  direct 
a  nation  or  a  people,  of  course  must  closely  regard 
their  circumstances.  We  see,  therefore,  without  at 
all  calling  in  question  the  abstract  principles  and 
truths  in  relation  to  wages,  labor,  profits,  and  cap- 
ital, that  they  depend  very  much  on  circumstances. 
Wages  are  high  or  low,  accordingly  as  labor  is 
well  or  badly  employed.  We  can  in  all  cases, 
without  Adam  Smith,  or  Mr.  Jay,  see  at  a 
glance,  when  we  understand  the  condition  of  the 
markets,  the  raw  materials,  the  wants  of  the  coun- 
try, and  the  amount  of  its  capital,  what  is  wanted 
to  give  effect  to  and  secure  the  profits  of  labor. 
We  see  that  labor  may  earn  something  or  nothing 
beyond  bare  support ;  that  it  often  goes  to  work 
from  its  own  impulses;  is  very  generally  governed 
by  the  circumstances  in  which  it  is  placed,  but 
often  needs  the  protection  and  inducements  'of 
governments  to  go  to  work  rightly  and  profitably, 
especially  when  working  with  machinery  and  un- 
der capitalists;  and  that  the  ultimate  tendency  of 
all  labor  in  these  times  of  perfect  machinery  is  to 
minimum  wages,  and  a  lean  support.  We  see  also 
that  there  is  but  little  difference  in  the  labor  of  all 
countries,  when  the  wages,  quality,  and  all  other 
circumstances  are  brought  in  and  estimated;  and 
that  nations  need  not,  or  ought  not,  to  govern  them- 
selves by  any  seeming  difference  in    wages,   but 


NOTES   ON   POLITICAL    ECONOMYv  215 

effectuate,  regardless  of  that,  any  plans  they  may 
have  requiring  the  employment  of  labor. 

Most  of  the  realization  that  is  secured  and  en- 
joyed in  all  countries  is  the  result,  either  of  labor 
when  producing  no  direct  wages,  or  from  the  growth 
of  countries.  As  we  remarked,  the  labor  of  man 
in  the  ordinary  routine  of  society,  builds  up  cities, 
farms,  houses,  roads,  canals,  bridges,  tools,  ships, 
boats,  and  a  thousand  things  that  are  wealth  and 
show  an  advance,  without  any  money  accumula- 
tion, or  active  capital.  Again,  the  advance  of 
population  and  wants  in  all  countries,  make  the 
lands  valuable.  Whole  quarters  of  cities  and  vil- 
lages, and  dense  settlements,  grow  upon  the  lazy 
accidental  landholders  ;  and  as  in  the  case  of  the 
Marquis  of  Westminster  and  others,  they  wake  up 
to  lordly  wealth.  I  could  number  half  a  mil- 
lion of  substantial  farmers  in  the  United  States, 
East  and  West,  who  became  men  of  substance  by 
the  growth  of  the  country  around  them,  lands 
rising  from  a  quarter  dollar  an  acre  up  to  sixty, 
whilst  they  were  in  the  mean  time  struggling 
with  an  overloaded  market,  and  making  nothing 
but  a  bare  support  on  their  farms.  There  is  every 
difference  in  the  availability  of  wealth,  whether  it 
be  in  this  shape,  or  accumulated  monied  capital. 
It  takes  money,  detached,  hoarded  and  accumu- 
lated capital,  to  stir  up  new  lines  of  business,  put 
labor  to  work,  and  build  machinery  and  factories. 
The  country,  on  any  emergency,  looks  not  to  the 
houses  and  farms  for  immediate  relief,  but  to  the 


216  NOTES    ON    POLITICAL    ECONOMY. 

monied  capital.  A  people  may  advance,  become 
in  one  sense  wealthy,  and  have  almost  no  money. 
They  may  become  very  snug  and  comfortable  by 
interchanging  their  labor,  and  working  in  manu- 
facturing up  to  the  home  market,  if  that  be  secured 
to  them.  To  accumulate  monied  capital,  however, 
as  a  nation,  something  foreign,  either  in  the  shape 
of  an  active  commerce,  or  exporting  large  quanti- 
ties of  raw  materials,  provisions,  or  goods,  seems 
necessary,  and  that  under  circumstances  to  have 
the  balance  in  her  favor. 


CHAPTER    XXV 


WAR  AND  TAXATION. 


War  is  a  very  exciting,  though  rather  an  acci- 
dental thing.  It  throws  a  people  on  their  resources, 
sharpens  their  wits,  produces  cases  that  show  what 
is  necessary,  speaks  often  in  the  imperative  mood, 
and  says  certain  things  must  be  done.  We  are  a 
striking  example  of  this.  In  our  late  war  with 
England,  we  began  it  without  the  common  neces- 
saries of  life,  much  less  of  war.  We  made  our 
arms  and  cannon,  our  powder  and  munitions,  our 
common  cotton  and  woollen  goods;  some  blankets, 
flannels,  salt,  iron,  and  many  things  that  now  are 
in  successful,  train  from  that  impulse.    Nothing  that 


NOTES    ON   POLITICAL    ECONOMY.  217 

we  then  began  to  make  has  disappeared,  but  all 
have  gone  ahead,  and  many  of  them  into  full  rival- 
ry with  England.  Until  that  war  we  did  not  think 
of  manufactures,  and  but  for  it,  and  the  difficulties 
that  led  to  it,  we  would  have  been,  doubtless,  ser- 
vile customers  fifty  years  longer  of  England.  That 
war  has  been  worth  one  thousand  million  dollars 
to  us,  and  will  be  worth,  in  the  run  of  time, 
incalculably  more.  Our  independence  dates  as 
much,  or  ought  to  do  so,  from  it,  as  from  the  Re- 
volution. The  Revolution  did  not  make  us  free, 
because  we  were  free  before ;  it  merely  set  us  to 
digging  the  soil  and  building  ships.  We  were  as 
much  bound  to  England  after  the  Revolution  as 
before,  because  dependent  on  her  for  all  our  neces- 
saries and  luxuries.  The  last  war  taught  us  to 
make  these  things,  and  now  we  are  free  indeed ; 
and  now  we  understand  the  meaning  of  the  term 
independence.  In  Europe,  war  has  frequently 
stirred  up  nations  to  great  and  capital  eflbrts,  and 
placed  them  on  new  grounds,  and  their  whole  in- 
dustry and  resources  on  totally  different  footings. 
The  wars  with  Spain  and  Holland  made  England 
a  manufacturing  and  commercial  people.  The 
wars  waged  by  Germany  on  Venice,  Genoa,  and 
Italy,  transferred  commerce  and  manufactures  to 
Flanders  and  the  Hanse  Towns.  Wars  have  built 
up  France,  Prussia,  and  many  other  parts  of  Eu- 
rope, and  made  them  independent  and  rich.  Wars 
waged  in  the  spirit  of  civilization,  as  they  now  are, 
prostrate  nothing — extinguish  nothing  in  the  arts 


218  NOTES   ON   POLITICAL   EOONOMY. 

or  agriculture.  On  the  contrary,  a  great  deal  of 
money  is  expended,  resources  cherished,  and  every 
thing,  even  agriculture,  stimulated.  Lombardy, 
Belgium,  and  the  Rhenish  provinces,  the  seats  of 
war  for  two  or  three  centuries,  are  the  best  culti- 
vated portions  of  Europe.  The  stimulus  of  war  is 
occasionally  necessary  to  all  people.  Nations,  like 
individuals,  require  excitement — need  to  have  their 
resources  tried,  their  principles  tested,  and  their 
characters  vindicated  and  brightened.  In  a  long 
peace  a  people  become  rusty,  selfish,  sluggish,  and 
less  spirited.  They  either  degenerate  into  slothful- 
ness  and  meanness,  or  become  absorbed  in  small 
gains,  and  show  a  trafficking,  cheating,  money-lov- 
ing, truckling  spirit.  They  want  arousing  or 
awakening  up  to  boldness  of  character,  enterprise, 
generosity,  and  sentiments  of  glory  and  honor. 
Wars  lead  to  glory  ;  honor  is  in  the  train.  If  the 
nation  be  free,  it  gains  many  qualities  and  senti- 
ments necessary  to  appreciate  and  secure  liberty. 
Even  in  a  monarchy  it  lifts  the  character,  and  en- 
nobles the  feelings  so  much,  that  no  despotism 
would  be  tolerated.  In  a  republic,  particularly, 
every  thing  is  restless  and  turbulent  in  times  of 
profound  peace. 

No  country  needs  a  war  half  as  much  as  these 
United  States.  All  sorts  of  party  spirit — scjnti- 
ments  of  disunion,  tariff  and  anti-tariff,  Jeffersonian 
democracy,  Clay  conservative  declarations,  slavery 
and  anti-slavery,  abolitionism,  and  antimasonry, 
state-rights  and    federal   principles,  nullifications 


NOTES    ON   POLITICAL    ECONOMY.  219 

and  nationals,  general  suffrage  and  property  quali- 
fications, and  a  thousand  other  feelings,  parties,  and 
principles,  are  all  the  time  struggling  for  the  mas- 
tery, at  the  expense  of  the  best  interests  of  this 
nation,  if  not  its  very  existence.  The  national 
character  is  too  low  to  be  felt  sufficiently  to  check 
and  put  to  rest  these  diversified  interests  and  tur- 
bulent feelings.  A  war  would  lift  the  federal  power 
out  of  the  very  dust  where  it  lies,  and  give  to  it  a 
character,  a  name,  and  perhaps  a  glory  that  would 
cause  it  to  be  respected,  and  impart  to  the  people 
some  pride  in  it.  Our  feelings  of  patriotism  and 
love  of  country  are  so  scattered  and  divided  be- 
tween the  states  and  the  general  government,  that 
they  have  no  force,  and  scarcely  exist.  Every  day 
things  get  worse,  our  national  sentiments  more 
weakened,  and  the  nation  rendered  less  efficient. 
Our  resources  are  either  wasted  by  neglect,  scat- 
tered by  division,  or  lying  totally  undeveloped. 
Our  manufacturers  are  not  encouraged,  our  agri- 
culture overloaded,  our  staples  overdone,  and  our 
commerce  hobbling  on,  for  the  want  of  rightly  un- 
derstanding its  relations  and  interests.  Much  of 
our  capital  has  left  the  country  to  buy  what  we 
ought  to  make  at  home,  and  debts  enough  owed 
abroad  to  take  the  remainder,  unless  we  soon 
change  our  policy.  Our  active  statesmen  have 
turned  demagogues,  and  are  serving  their  own  base 
purposes  by  the  meanest  and  most  unprincipled 
intrigues  and  corruption,  instead  of  studying  the 
true  policies  of  the  country  and  carrying  them  into 


220  NOTES    ON    POLITICAL    ECONOMY. 

effect.  Nothing  but  a  war  can  save  us — can  bright- 
en our  escutcheon,  lift  us  above  all  this  meanness 
and  local  feeling,  and  make  and  preserve  us  a  na- 
tion. I  say  make,  because  we  really  require  new- 
modelling,  new  characters,  new  and  better  feelings, 
more  available  principles,  a  purer  patriotism,  and 
more  efficient  employment  of  our  labor.  We  have 
let  the  rabble  into  a  controlling  power  by  our  gen- 
eral suffrage,  and  allowed  the  states  to  cleave  down 
the  central  or  federal  government,  until  its  giant 
limbs  lie  more  enthralled  than  did  Gulliver's.  War, 
besides  setting  the  national  feeling  aright,  would 
cultivate  our  resources,  and  give  a  final  and  effec- 
tual support  to  our  labor.  We  would  come  out  of 
it  w^ith  renewed  energies,  sentiments  of  patriotism, 
character  of  glory  and  honor,  and  move  off  as  a 
great  nation  ought  to  do  under  such  impulses.  Our 
statesmen,  for  the  nation's  sake,  ought  to  encourage 
a  w^ar  whenever  it  can  be  done  consistently  with 
justice  and  honor,  and  our  political  economists  feel 
that  through  it  would  be  the  readiest  road  to  real 
independence,  manufacturing,  and  commercial 
wealth.  They  ought  to  do  every  thing  but  create 
a  war ;  never  avoid  one,  rather  invite  it  and  meet 
it  more  than  half  way.  Without  glory  and  a  high 
national  character  a  republic  is  nothing,  and  a 
iponarchy  a  tame  and  leaden  concern. 
W  The  monarchies  of  Europe  could  much  sooner 
extinguish  our  republic  by  leaving  us  in  peace  to 
corrode  our  own  vitals,  than  by  fighting  us.  We 
would  in  a  tough  war  exert  an  elasticity  that  would 


NOTES    ON    POLITICAL    ECONOMY.  221 

astonish  Ihe  old  world,  and  impose  upon  them  a 
respect  for  our  character  that  would  affect  the  fu- 
ture destiny  of  the  old  regimes.  Our  scattered 
sympathies  would  then  be  collected  ;  not  the  federal 
government,  but  the  local  hydras  would  be  nulli- 
fied ;  not  the  conservative  power  of  the  Union,  but 
the  unnatural  and  illegitimate  feelings  that  our 
demagogues  in  times  of  a  long  peace  have  had  time 
to  mature  and  strengthen.  A  confederation  soon 
commences  an  action  on  herself,  on  her  own  mem- 
bers, unless  a  foreign  war  engages  her  restless 
demagogues.  All  the  parts  stand  out  distinctly, 
and,  without  amalgamation  enough  to  blend  them 
into  harmony,  thrust  at  each  other,  and  cherish 
the  strongest  jealousies  and  bitterest  feelings. 
The  local  sovereignties,  standing  fully  organized, 
are  ready  for  prompt  action ;  not  like  the  case 
where  individuals  would  have  to  combine,  and 
could  be  defeated  before  they  matured  any  plan  or 
concert.  A  war,  attended  with  national  glory, 
alone  can  compress  and  keep  in  their  places  these 
turbulent  states,  these  local,  organized,  inherent 
sovereigns,  and  centre  all  the  conflicting  interests 
into  some  great  focus. 

Political  economy  is  much  concerned  in  taxa- 
tion, and  should  zealously  inquire  into  the  best 
modes  of  taxing ;  the  general  effect  of  all  or  any 
tax  ;  and  must  in  reference  to  it  have  regard  to  the 
circumstances  of  the  nation.  Taxes  are  necessary, 
and  should  be  laid  so  as  not  to  shock  public  opin- 
ions and  prejudices,  or  bear  injuriously  upon  any 


222       NOTES  ON  POLITICAL  ECONOMY. 

interest.  As  long  as  a  nation  imports  enough,  the 
best  mode  of  raising  a  revenue  is  on  imposts ;  be- 
cause it  operates  equally,  and  is  easily  and  quietly 
collected,  without  any  thing  inquisitorial  or  offen- 
sive in  its  mode.  Whether  in  the  shape  of  imposts 
or  direct,  a  tax  can  discriminate,  and  aid  the  best 
interests  of  the  country,  either  by  avoiding  such  as 
require  cherishing,  or  by  bearing  heavily  upon  such 
as  are  of  no  great  consequence  and  can  better  bear 
it.  Until  a  nation  be  ready  to  prohibit,  she  ought 
to  tax  foreign  manufactures  high,  so  as  to  favor 
any  thing  of  her  own  production  in  that  way.  It  is 
generally  bad  policy  to  tax  raw  materials,  or  labor 
in  any  shape.  In  time  all  nations  must  and  will 
make  their  own  goods  at  home  up  to  their  con- 
sumption ;  this  is  a  mark  that  all  move  up  to  ;  then 
the  tax  on  imports  would  necessarily  be  confined  to 
^uch  things  as  could  not  be  grown  or  produced — 
such  as  tropical  luxuries,  or  the  growth  peculiar  to 
some  regions  only.  If  these  did  not  furnish  revenue 
enough,  and  the  tax  had  to  come  home  and  fasten 
.upon  the  operations  of  the  country,  it  should  avoid 
jthe  laborer  and  all  articles  of  the  first  necessity  as 
far  as  could  be  done.  The  ad  valorem  principle  is 
the  fairest  on  a  general  scale,  but  articles  of  luxury 
should  be  singled  out  for  special  taxing,  as  best 
able  to  bear  it,  and  less  disturbing  the  industry  of 
the  country.  Capital  ought  not  to  be  taxed  when 
it  is, in  the  shape  of  public  improvements  or  vested 
in  manufacturing,  because  there  it  is  best  subserv- 
iug  the  country.  When,  however,  it  is  on  interest,  or 


NOTES    ON    POLITICAL    ECONOMY.  223 

banking,  or  in  agriculture  and  speculation,  or  lands, 
or  foreign  stocks,  or  not  in  some  direct  way  touch- 
ing the  springs  of  industry  in  the  great  departments 
named,  it  is  a  proper  subject  of  an  ad  valorem  tax. 
Whether  a  national  debt  is  an  evil  or  not  depends 
on  circumstances.  If  it  be  owned  by  her  own  peo- 
ple, and  not  heavy  enough  to  require  the  taxing  of 
labor,  and  the  consumption  of  necessaries,  it  is  no 
burthen  at  all  ;  but  if  labor  has  to  be  taxed,  neces- 
saries reached,  and  the  stock  be  held  abroad,  it  is 
a  serious  evil,  a  millstone  about  the  nation's  neck, 
and  a  clog  on  her  industry.  The  English  debt, 
being  held  at  home,  its  burthen  arises  from  its  mag- 
nitude, obliging  taxes  to  go  upon  every  branch  of 
industry  and  consumption  to  meet  its  interest. 
Within  the  limits  above  named,  a  debt  is  a  blessing. 
It  cements  and  consolidates  the  fa  brie  of  a  gov- 
ernment, by  making  the  most  sordid  concerned  in 
its  prosperity,  and  is  a  stimulus  on  all  the  industry 
and  operations.  A  nation  then  has  been  aptly 
described  as  giving  a  mortgage  for  her  good  behav- 
ior ;  and  I  w^ill  add,  a  pledge  and  guarantee  of  her 
industry.  Such  a  debt  comports  with  patriotism, 
and  stimulates  an  eternal  vigilance  over  the  insti- 
tutions of  the  country.  W^'hen  a  nation  has  idle 
capital,  it  is  a  godsetid  to  have  a  debt  w  ithin  the 
above  described  limits ;  offering  a  safe  and  ready 
investment,  which  does  not  sink,  or  destroy,  or  even 
deaden  capital ;  for  in  the  shape  of  national  stocks 
it  is  just  as  available:  can  found  institutions,  en- 
dow schools,  provide  for  the  widow  and  orphan, 


224  NOTES    ON   POLITICAL    ECONOMY. 

and,  when  wanted,  turn  into  machinery  and  manu- 
factures. 

The  worst  state  of  a  public  debt  is  where  its 
evidences  or  stocks  are  held  abroad.  It  then  taxes 
the  country  for  the  benefit  of  foreigners,  and  ex- 
hausts, in  the  rapid  way  that  spending  incomes 
abroad  or  buying  all  we  use  from  abroad  does 
and  will  do.  We  so  far  are  subservient  and  even 
subject  to  foreigners,  unless  we  resort  to  the  dis- 
graceful course  of  repudiating  it,  or  refusing  to  pay 
the  interest  on  it,  which  would  be  infinitely  worse 
than  the  taxation  necessary  to  meet  it.  Political 
economy  should  avoid  that  sort  of  debt  that  would 
bind  us  abroad ;  that  would  be  heavy  enough  to 
affect  industry  in  the  shape  of  labor,  or  necessary 
consumption  ;  but  rather  invite  that  w^hich  would 
be  held  at  home ;  offer  investments  to  capital ;  and 
not  add  to  the  burthens  enough  to  be  injuriously 
felt.  Such  a  debt  tends  also  to  fasten  and  keep 
capital  in  the  country,  and  prevent  that  wild  specu- 
lation which  capital  indulges  in,  when  devoid  of 
employment  at  home.  A  rational  view  of  this  sub- 
ject would  correct  that  slang  that  demagogical 
politicians  indulge  in,  going  to  denounce  all  nation- 
al debt,  and  preaching  up  crusades  against  it. 
Many  objects  of  national  improvement  require 
some  debts  to  be  incurred,  and  the  nation  is  greatly 
gainer  by  them,  even  at  the  expense  of  some  taxa- 
tion. Often  great  interests  are  thereby  developed, 
and  brought  not  only  into  existence,  but  to  a  mar- 


NOTES    ON    POLITICAL    ECONOMY.  225 

ket.  Rather  than  see  its  population  remain  in  ig- 
norance and  uneducated,  a  nation  ought  to  incur  a 
debt  for  a  general  school  fund ;  and  rather  than  be 
insulted,  and  have  its  national  character  sullied,  and 
i\^  glory  extinguished,  it  ought  to  go  up  to  the  last 
limit  of  a  bearable  debt.  All  nations  have  seen  the 
time,  and  will  see  it,  when  manufactures  ought  to 
be  not  only  started,  but  aided,  if  necessary,  by 
loans,  and  a  debt  or  taxation  encountered  for  them. 
Great  caution  ought  to  be  observed  by  political 
economists  in  paying  off  a  debt.  Sometimes  it 
would  be  much  better  to  use  money  in  developing 
other  interests,  if  any,  than  in  paying  off  a  debt  that 
is  not  oppressive.  To  pay  off  a  debt  discourages 
capitalists,  and  inclines  them  to  look  abroad  for 
more  permanent  employment  of  their  capital,  and 
there  is  a  risk  of  losing  that  much  money  from  the 
country.  We  should  not  console  ourselves  with 
the  idea  that  the  interest  would  be  owned  here, 
even  if  the  capital  did  seek  foreign  investment. 
That  is  not  always  the  case,  for  capitalists  are  very 
apt  to  follow  their  money  and  reside  abroad,  when 
it  would  be  there  spent.  There  is  always  a  wide- 
spread shock  occasioned  by  paying  off  a  large  debt. 
The  thousand  investments  in  favor  of  the  widows, 
orphans,  schools,  improvements,  manufacturing,  or 
other  developments,  become  disturbed  and  broken 
up,  and  much  confusion  ensues.  At  no  one  time 
ought  too  much  to  be  discharged  ;  not  enough  to 
convulse  or  distract  any  interest,  or  drive  capital 
abroad  or  into  wild  speculation.     A  nation  may 

16 


2S6  NOTES    ON   POLITICAL    ECONOMY. 

check  the  over  production  of  any  one  article,  should 
too  much  labor  and  capital  incline  to  go  into  it,  by 
a  tax  on  such  production  over  a  certain  quantity, 
or  amount,  or  bulk;  on  all  cotton  bales  over  a 
certain  number,  or  the  hogsheads  of  tobacco  ovar 
a  certain  amount,  or  manufacturing  stock  over  a 
certain  amount,  or  any  other  thing  that  threatened 
either  a  monopoly  or  a  prostration  of  the  market. 
Should  a  fear  be  entertained  that  manufactures 
will  go  too  far,  and  produce  distress  by  their  com- 
petition, they  might  be  limited  to  the  home  supply 
by  a  tax  on  the  exportation  of  them,  or  such  as 
sought  a  foreign  market.  Political  economy  may, 
under  certain  circumstances  of  a  country,  wield  a 
war,  a  national  debt,  and  taxation,  so  as  to  do  much 
good  in  building  up  its  character,  as  well  as  sub- 
serving manufactures,  agriculture,  and  commerce. 


CHAPTER   XXVI 

EXTENSION  OF  TERRITORY- 

OuR  political  economists  should  vehemently  op. 
pose  any  further  extension  of  territory.  We  have 
acquired  Louisiana  and  the  Floridas,  and  are  now 
reaching  after  Texas,  Oregon,  and  even  California. 
We  have  spread  the  thin  texture  of  our  population 
already  over  millions  of  square  miles,  until  its  whole 


NOTES  ON  POLITICAL  ECONOMY.       227 

tenacity  is  lost,  and  it  has,  for  many  purposes,  no 
efficiency.  This  extent  of  country  disjoints  all  of 
our  feelings  and  interests,  and  weakens  our  sympa- 
thies with  one  another.  A  population  must  have 
a  certain  density  to  accomplish  any  great  object. 
We  lie  too  much  scattered  to  be  connected  by  any 
system  of  internal  improvement ;  half  of  our  people 
are  in  the  mud,  and  a  large  portion  too  remote  from 
markets  to  reach  any.  Hunting  and  drinking  take 
up  such,  and  render  them  semi-barbarous.  Where 
roads,  canals,  bridges,  and  such  works,  are  wanted 
to  be  made,  there  must  be  a  certain  density  of 
population  to  furnish  the  facilities  of  labor,  and 
provisions  to  aid  in  the  works,  and  insure  a  divi- 
dend by  the  use  of  them.  Thousands  of  miles  stand 
a  blank  therefore,  the  population  too  sparse  to  have 
any  efficiency,  or  to  act  promptly  or  usefully,  either 
in  repelling  invasions  or  in  aiding  each  other's 
schemes  and  projects. 

Adding  Texas  to  this  country  will  not  only 
prolong  the  existence  of  slavery,  but  give  to  it  a 
new  lease,  a  fresh  hold  upon  the  country.  As 
well  might  you  attempt  to  destroy  a  monster  by 
feeding  it,  giving  to  it  a  pure  air,  unshacklet 
limbs,  and  a  free  space  to  move  in,  as  to  hope  to 
extinguish  slavery  by  planting  it  in  Texas.  The 
only  principle  that  slavery  in  this  country  will 
wear  out  under,  is  that  sort  of  condensation  of  pop- 
ulation which  will  furnish  hireling  labor  as  cheap 
as  the  cost  of  slave  labor,  and  an  abundance  of  it. 
Is  this  to  be  soonest  accomplished  by  condensing 


228  NOTES  ON    POLttlCAL    ECONOIVir. 

or  scattering  the  population  7  All  now  agree,  ex^ 
cept  some  enthusiastic  abolitionists,  that  our  slaves, 
with  the  eternal  mark  of  degradation  upon  them, 
fixed,  both  by  nature  and  fact,  would  be  worse  off, 
more  degraded,  if  possible,  and  infinitely  more  im- 
moral and  worthless,  if  made  free,  than  in  their 
state  of  slavery;  that  no  fund,  not  even  of  the  na- 
tion, is  adequate  to  the  purchasing  out  the  right, 
even  if  the  owners  were  willing ;  and  would,  if 
done,  create  a  much  worse  state  of  things,  a  per- 
fect clog  to  that  extent,  and  a  loss  of  their  avail- 
able products.  No  fund  could  transport  them 
across  the  Atlantic  for  colonization,  or  furnish  ton- 
nage and  rations  for  such  a  vast  operation.  Three 
millions  of  people,  not  even  by  the  despotism  of  the 
Romans,  the  Czars  of  Russia,  or  Asiatic  barbarity, 
have  ever  yet  been  forced  from  any  country  where 
they  were  native,  except  by  extermination.  Slav- 
ery, then,  will  remain  among  us,  mix  in  with  the 
population  in  the  long  run  of  circumstances,  and  is 
destined  to  form  the  stamina  of  population,  particu- 
larly in  the  delta  of  the  Mississippi  river.  Aboli- 
tionism has  the  cart  before  the  horse  in  their 
preachments : — instead  of  the  slave  running  away 
from  his  owner,  the  masters  are  destined  to  ruft 
away  from  the  slave,  when  they  no  longer  yield 
any  profit,  and  nothing  but  responsibility  and 
trouble  to  the  owners. 

A  scattered  people  caniiot  be  collected  quick 
enough  to  repel  invasions,  or  to  defend  other  districts. 
Their  greatest  security  from  an  enemy  is  the  diffi- 


NOTES    ON    POLITICAL     ECONOMY.  229 

culty  of  finding  them.  None  but  the  active  dema- 
gogues, that  care  not  for  mud  and  mire,  floods  or 
swamps,  can  collect  them  at  the  polls  to  vote  ;  and 
they,  the  voters,  knowing  no  other,  throw  them- 
selves into  such  hands.  Information,  such  as  would 
subserve  them,  cannot  be  imparted :  the  newspa- 
pers and  journals  that  reach  them  are  of  the  very 
worst  sort ;  and  it  is  so  hard  to  apply  any  system 
of  schools  or  education  to  them,  that  nothing  of  the 
kind  is  attempted.  The  Lancastrian  monitorial 
plan,  with  but  little  expense  and  great  result,  can 
be  applied  to  people  living  together  in  dense  settle- 
ments and  villages,  but  totally  fails  to  reach  our 
scattered  population.  In  this  sparse  state  educa- 
tion is  aback,  improvements  are  aback,  and  all 
taste  and  refinement  not  only  has  no  place  with 
them,  but  is  sneered  at  and  ridiculed.  All  the  na- 
tions of  Europe  are  advancing  in  the  arts,  in  edu- 
cation, and  refinement,  because  they  are  teaching 
each  other,  acting  continually  on  each  other,  and 
sharing  each  other's  sympathies.  The  only  know- 
ledge our  frontier  men  have  is  of  the  forest  and 
hunting ;  the  only  activity  they  boast  of  is  in 
scouring  the  country,  overleaping  mountains,  mud, 
and  sand  plains ;  and  the  only  patriotism,  such  as 
they  manifest  by  reading  and  acting  upon  the  sug- 
gestions of  some  dirty  newspaper  that  finds  them 
through  the  corruptions  of  the  mail  or  the  designs 
of  party.  Talk  of  commerce,  they  know  nothing 
about  it ;  speak  of  manufactures,  they  are  told  that 
England  manufactures  for  them  ;  their  agriculture 


230  NOTES    ON   POLITICAL    ECONOMY. 

is  corn  and  pork,  and  much  of  that  eaten  in  the  coars- 
est way  at  home.  But  for  this  centrifugal  state^ 
our  people  might  have  been  collected  on  one  third 
of  the  space,  and  stood  far  advanced  in  all  the  im- 
provements; would  have  been  now  making  their 
own  supplies,  and  the  country  snug  and  indepen- 
dent. Many  differences  of  interest  will  naturally 
appertain  to  a  population  without  any  centre  of 
action  and  standard  of  value,  or  concert  in  their 
policies.  It  would  be  very  difficult  to  reconcile  the 
wide-spread  inhabitants  of  such  a  disjointed  coun- 
try to  one  another,  and  to  any  plan  of  improvement 
or  productive  industry  that  could  embrace  the 
whole.  If  wisdom,  patriotism,  and  purity  of  inten- 
tion, were  invited  to  act,  and  found  no  political  op- 
position, still  they  would  find  great  difficulty  in  ap- 
plying any  ameliorating  measures  to  them,  any 
uniform  system  of  commerce,  agriculture,  or  manu- 
factures, that  would  cover  the  whole  ground,  em- 
brace such  discordant  materials,  and  gather  all  into 
one  focus  of  national  usefulness  and  individual 
.wealth. 

Our  politicians  and  our  political  economists 
ought  to  unite  in  checking  this  wandering,  scatter- 
ing spirit,  that  seems  to  know  no  limit,  that  is  to 
be  brought  up  by  the  great  Pjacific  ocean  only,  that 
seeks  new  countries  not  on  the  principle  of  con- 
quest or  national  aggrandizement,  but  merely  for 
the  pleasure  of  wandering  over  and  pitching  their 
tents  upon  them.  When  mankind  live  more  con- 
centrated  they  act  beneficially  upon  each  other. 


NOTES    ON    POLITICAL    ECONOMY.  231 

New  inventions  become  property  in  common,  new 
lines  of  business  leading  to  profits  and  wealth  are 
seen  by  all,  copied  by  all,  and  a  great  excitement 
and  ambition  take  hold  of  all,  and  they  advance 
together,  stimulating  each  other,  rising  w^ith  each 
other,  and  have  each  other's  sympathy  and  support. 
A  dense  settlement  has  in  its  own  bosom  a  thou- 
sand facilities  for  improvements,  and  the  effectu- 
ating and  carrying  out  any  project  or  plan  that 
promises  well.  Taste,  refinement,  luxury,  educa- 
tion, social  and  moral  excellence,  the  appreciation 
of  character,  the  accumulation  of  wealth  and  capi- 
tal, the  spirit  of  enterprise,  of  commerce,  improve- 
ment in  agriculture,  in  manufacturing,  and  all  the 
aspirations  to  comfort,  some  standing  in  society,  and 
some  name  or  character  for  some  available  acts  or 
operations — all  are  active  in  a  comfortably  dense 
population ;  nothing  in  a  scattered,  semi-barbarous, 
and  reckless  one.  The  acquisition  of  Texas 
would  be  ruinous,  because  it  would  extend  and 
foster  slavery,  and  aid  all  this  scattering  inefficien- 
cy we  speak  of  The  daily  papers  and  many 
other  publications  place  Texas  on  the  proper 
footing — and  no  more  need  be  said.  The  Oregon 
would  detach  entirely  our  settlements  and  defen- 
ces, by  the  intervention  of  one  thousand  miles  of 
desert  and  barren  mountains.  California  worse  : 
Canada  not  worth  fighting  for ;  yet  we  aim  at  all 
and  each  of  these  regions.  From  one  extremity 
of  the  country  to  the  other,  from  Louisiana  to 
Maine,  from  Missouri  to  Cape  Hatteras,  all  ought 


232  NOTES    ON   POLITICAL    ECONOMY. 

to  cry  out  against  the  acquisition  of  any  more  ter- 
ritory, against  our  disturbing  the  Indians  any  more, 
or  pushing  them  further  back  in  the  face  of  solemn 
treaties  made  with  them.  To  show  the  reckless- 
ness and  want  of  calculation  that  has  run  with 
this  scattering  of  our  settlements,  and  acquiring 
new  territory,  I  will  mention  one  circumstance : 
The  cotton  staple  bore  a  high  price,  and  was  en- 
riching the  cultivators  of  the  article,  from  1800  to 
1822.  They  had  a  permanent  estate  and  price 
both,  if  they  had  seen  it;  for  there  was  not  good 
soil  enough  to  overdo  the  market  and  reduce  the 
price  to  almost  nothing,  as  it  now  stands.  These 
very  cotton  growers,  instead  of  examining  the 
ground  and  understanding  their  advantages,  cla- 
mored for  the  acquisition,  even  by  force  if  necessa- 
ry, of  the  Cherokee,  Creek,  Seminole,  Choctaw, 
Chickasaw,  Cado,  and  Q^uapaw  countries,  and 
forced  the  government  to  procure  all  these  regions 
at  great  expense  and  inconvenience,  furnishing 
three  or  four  times  the  amount  of  the  cotton  lands, 
of  an  infinitely  better  quality  too,  and  more  than 
doubling  the  product  in  a  few  years.  These  re- 
gions can  produce  ten  times  as  much  cotton  as  they 
now  do,  and  will  keep  the  price  all  the  time 
ground  down  to  minimums.  Never  was  such  a 
suicidal  act  witnessed  before — never  did  the  in- 
nate habit  of  dispersing  and  scattering  show  such 
a  strong  example  of  folly,  overruling  all  private  in- 
terests, and  blindly  sacrificing  millions  invested  in 
farms,  and  many  more  millions  in  the  future  by  the 


NOTES    ON    POLITICAL    ECONOMY.  233 

fell  of  the  market.  The  cotton  culture  never 
would  have  been  overdone  if  these  tribes  had  been 
left  in  possession  of  their  lands,  or  only  disturbed 
as  the  extension  of  the  market  required. 

A  certain  density  of  population  is  necessary  to 
a  liberal  consumption  of  a  country,  as  well  as  im- 
provements and  a  valuable  production.     Mankind 
act  upon  each  other  in  reference  to  their  wants, 
style,  luxury,  tastes,  and  the  quality  of  the  goods 
and  food  that  they  consume.     One  family  or  indi- 
vidual will  not  be  behind  another,  and  will  make 
effort  enough  to  procure  whatever  is  necessary  to 
give  them  character,  or  rather  prevent  them  falling 
behind  their  neighbors.      A  pride   and   ambition 
walk  forth  that  stimulate  them  not  only  to  realize 
wealth,  but  show  some  style,  some  comfort,  some 
taste  and  refinement.     This  is  what  is  called  the 
pride  of  comfort  or  style,  by  some  writers,  and  leads 
to  high  and  valuable  consumption.      When  this 
habit  is  formed  it  must  be  gratified,  and  will  make 
uncommon  exertions  to  do  it ;  will  produce  more, 
manufacture  more,  labor  more,  and  be  a  more  effi- 
cient, valuable,  and  high-minded  population.    When 
wealth  is  attained  by  a  people,  these  habits  of  a 
higher  and  better  consumption  spring  up ;  and  this 
wealth  is  not  only  felt  in  improving  a  nation  and 
people,  in  establishing  manufactures  and  commerce, 
and  a  better  agriculture,  but  in  the  quality  of  the 
consumption,  the  general  style  of  living,  and  the 
general  taste  that  spreads  abroad.     Wealthy  na- 
tions consume  more  and  stimulate  more  produc- 


234  NOTES    ON   POLITICAL    ECONOMY. 

tions  than  a  poor  people,  unless  these  latter 
take  a  turn  in  commerce  and  manufacturing  that 
creates  wealth  for  them,  when  they  are  no  longer 
poor,  and  have  the  means  to  consume  fully.  Ele- 
gance, taste,  and  refinement,  when  associated  with 
wealth,  stand  not  in  the  way  of  industry — rather 
increase  its  productiveness,  from  the  ambition  and 
factitious  wants  created,  and  the  spirit  and  pride 
that  must  be  gratified.  Plenty  of  money^  therefore, 
carries  a  people  on  to  still  greater  wealth,  and  to 
a  high  and  proud  style  of  living,  when  dense 
enough  to  act  on  each  other,  and  consume  largely, 
spend  freely,  and  patronize  more  extensively  the 
tasteful  productions  of  the  arts.  When  new  wants 
spring  up,  the  abundance  of  money  steps  forth  and 
puts  in  train  the  machinery  and  the  fixings  neces- 
sary to  their  gratification,  and  induces  the  skill  and 
labor  to  take  hold  and  produce  them.  This  plenty 
of  money  that  appertains  to  dense  population  gets 
the  people  in  the  habit  of  not  only  spending  freely, 
but  raises  up  all  prices  of  things,  such  as  tavern- 
rates,  grain,  horses,  equipage,  furniture,  wages,  as 
in  England  :  still  it  does  no  harm  when  they  supply 
themselves ;  for  being  all  within  themselves,  is  bal- 
anced in  the  rounds,  and  prices  of  all  graduate  to 
one  another.  A  nation  with  a  great  plenty  of  mo- 
ney, is  always  ready  armed  cap-a-pie  for  any  thing 
that  offers,  and  is  continually  putting  into  opera- 
tion new  things,  developing  new  resources  of  the 
nation,  and,  if  properly  enlightened  and  free,  is 
foremost  in  every  market,  and  in  all  beneficial  bu- 


NOTES    ON    POLITICAL    ECONOMY.  235 

siness.  An  abundant  capital,  therefore,  is  not  a 
check  on  a  nation's  industry,  but  a  vast  and  ready 
means  of  placing  and  keeping  her  ahead  of  others, 
when  dense  enough  to  act  on  each  other,  and  feel 
each  other's  stimulus. 


CHAPTER   XXVII. 

BANKS,  MONEY  COMPANIES,  ACCUMULATION  OF  CAPITALJ 
BALANCE    OF    TRADE,    &C. 

The  policy  of  making  banks  and  issuing  paper 
money,  and  increasing  artificially  the  capital  of  a 
country,  should  deeply  engage  the  attention  of  the 
political  economist.  Occasions  may  occur  in  young 
and  vigorous  countries,  where  much  is  necessary  to 
be  developed,  and  of  a  safe  character,  that  capital 
might  be  beneficially  increased  by  factitious  issues. 
These  paper  dollars  appear  and  execute  their  great 
purposes,  by  starting  works  and  operations  that 
afterwards  go  on  themselves,  without  continual  aid. 
All  issues  ought  to  be  convertible  into  specie  to 
carry  confidence ;  and  if,  on  emergencies,  they 
should  fail  to  represent  specie,  the  nation  ought  to 
stand  behind  them,  and  make  them  good  in  the 
end,  by  receiving  them  for  their  dues.  A  bank 
whose  issue  was  thus  guaranteed  could  not  do 
much  mischief,  even  if  it  had  to  wind  up.     In  com- 


236  NOTES   ON   POLITICAL    ECONOMY. 

mercial  cities  banks  do  good,  as  depositories  or 
centres  where  capital  is  collected  and  placed  out 
on  short  loans  upon  business  paper,  and  give  great 
activity  to  business  by  their  daily  operations. 
Loans  by  the  year,  or  long  enough  to  base  any 
annual  improvement  upon,  become  jeopardized  by 
all  the  changes  incident  to  business ;  and  if  runs 
be  made,  the  banks  have  to  stop,  because  they 
cannot  call  in  quick  enough  to  meet  them.  In  long 
discounts,  therefore,  banks  do  more  harm  than 
good,  for  they  induce  customers  who  enter  upon 
establishments  requiring  a  long  time  to  mature 
them,  and  on  the  least  alarm  curtail  upon  them  so 
rapidly  that  the  individual  has  to  stop,  and  very 
likely  the  bank  too,  to  the  distraction  of  the  coun- 
try. The  very  time,  therefore,  that  the  aid  of  the 
banks  is  most  wanted  by  individuals,  in  times  of 
pressure,  these  banks  have  to  curtail,  withdraw 
their  support,  and  ipso  facto  make  the  pressure 
double  upon  their  customers;  and,  if  this  be  not 
done,  have  to  stop  specie  payments.  They  stand 
then  in  a  situation  to  do  mischief  from  necessity — 
either  their  customers  or  themselves  must  fail  in 
difficult  times,  and  frequently,  in  the  doubtful  strug- 
gle, both,  and  leave  the  country  worse  off  and 
more  depressed  than  if  they  had  never  existed. 
Paper  issued  on  the  credit  of  a  government  would 
do  more  good ;  for  that,  not  claiming  to  represent 
specie,  and  yet  having  the  government  endorsement, 
and  made  receivable  for  its  dues,  would  stand  in 
credit  in  even  difficult  times,  unless  too  much  of  it 


NOtES   ON   POLITICAL    ECONOMV.  237 

tvere  thrown  out.  The  works  put  into  operation 
by  bank  facilities  or  government  credits  remain^ 
and  are  a  part  of  our  wealth ;  like  the  scaffold- 
ing of  a  building,  which,  when  knocked  away, 
leaves  the  w^ork  in  all  its  beauty  and  usefulness  to 
subserve  the  public.  Whether,  then,  banking  be 
resorted  to  or  not  w  ith  any  favorable  result,  will 
depend  on  circumstances  connected  with  the  state 
of  that  country,  which  w^ould  require  the  considera- 
tion of  the  political  economist;  and  the  case  must 
be  strong  and  urgent  to  warrant  such  institutions  as 
a  means  of  adding  to  the  capital  of  the  country* 
Banks  do  good,  however,  on  the  principle  that  Hoi-' 
land,  England,  and  France  use  them,  as  mere  de- 
positories of  specie  and  bullion^  upon  which  con- 
vertible paper  is  issued,  that,  from  its  lightness, 
favors  transportation,  travelling,  and  exchange. 

We  have  shown,  in  a  former  chapter,  that 
there  are  times  and  occasions  in  most  countries 
when  certain  manufactures  or  branches  of  agricul- 
ture require  to  be  developed  for  the  independence 
and  comfort  of  that  country  :  at  such  times  the 
nation  ought  to  step  forward  with  its  funds,  if  it 
has  any,  or  its  credit,  if  that  be  available,  and  make 
loans  or  offer  bounties  to  have  the  article  in  ques- 
tion produced.  This  would  be  in  the  nature  of  a 
factitious  currency,  or  a  temporary  increase  of 
money.  The  productions  thus  brought  into  exist-' 
ence  often  reimburse  the  capital  directly;  and 
again,  by  the  increase  of  productive  wealth,  made 
fiivailable.    All  nations  have  their  crises,  not  only  as 


238  NOTES    ON    POLITICAL    ECONOMY. 

to  war  and  the  asserting  of  their  liberties,  but  as 
to  the  developing  of  their  resources ;  and  at  such 
times,  if  individual  wealth  and  capital  be  inade- 
quate, the  nation  should  step  forward  and  do  what 
the  case  calls  for,  and  not  lose  the  chance  of  any 
great  operation.  If  nations  would  be  on  the  watch 
for  such  crises,  avail  themselves  of  them,  and  secure 
the  benefits  accruing,  they  might  become  rich  by 
such  happy  strokes  of  policy.  The  nations  that  do 
get  the  start  of  the  w^orld  have  embraced  many 
such  operations,  and  turned  all  favorable  circum- 
stances to  account,  by  stimulating  and  aiding  indivi- 
duals to  realize  the  advantages  offered.  The  .Eng- 
lish history  is  full  of  such  crises,  and  the  rapid 
developments  based  upon  them  seen  and  stimulated 
by  her  vigilant  government. 

An  extreme  case  may  be  encountered  when  it 
might  do  good  temporarily  to  debase  the  coin  and 
sink  the  standard  ;  I  mean  the  case  where  a  nation 
does  not  make  its  supply  at  home,  and  all  its  capital 
or  money  is  leaving  it  to  buy  goods  abroad  that 
ought  to  be  made  at  home.  To  prevent  what  little 
specie  they  have,  which  is  never  much  under  those 
circumstances,  leaving  the  country,  they  might 
debase  it,  and  thus  keep  it  for  a  while  at  home. 
The  citizens  of  such  a  country  being  accustomed 
to  see  its  coin  buy  according  to  its  face,  cannot  re- 
concile it  to  their  notions  of  interest  to  feel  that  it 
was  not  buying  its  usual  quantity,  and  pause  to 
do  things  at  home  as  a  matter  of  necessity.  Such 
presort,  however,  is  indicative  of  a  wretched  policy 


NOTES    ON   POLITICAL    ECONOMY.  239 

in  the  country ;  and,  in  the  nature  of  a  desperate 
remedy,  is  temporizing  in  its  character,  and  merely 
intended  to  throw  difficulties  in  the  way  of  a  false 
and  ruinous  business.  Rather  than  leave  every 
department  of  industry  undeveloped,  and  without 
capital  to  stimulate  them,  a  country  had  better 
risk  something  in  banks,  factitious  issues,  govern* 
ment  credits,  or  loans,  and  even  debase  the  coin, 
than  stand  aback  so  many  years  and  be  utterly 
impoverished.  In  the  great  race  now  going  on  in 
the  world  for  the  high  prizes  that  labor  and  the 
arts  hold  forth,  every  thing  should  be  brought  in 
that  could  aid  in  the  start  and  contribute  to  .win 
some  of  the  prizes.  When  a  balk  is  made  at  the 
start  off,  a  nation  scarcely  ever  again  recovers  its 
energies  for  another  attempt,  and  quietly  yields  the 
palm  to  her  fleeter  and  prompter  rivals.  Art  is 
resorted  to,  and  often  equalizes  cases  among  indi- 
viduals as  well  as  nations ;  and  why  not  resort  to 
it,  to  make  up  any  deficiency  of  capital  in  a  nation  ? 
Money  is  nothing  but  a  representative  value,  and 
why  not  put  out  or  create  enough  of  these  tokens 
of  value  to  do  all  that  is  wanted  towards  a  vigor- 
ous start?  It  might  not  do  to  repeat  and  loan 
more  than  once  such  factitious  means  in  the 
same  operation,  for  then  a  want  of  confidence  and 
a  depreciation  would  defeat  the  effort.  There  is  a 
tendency  in  the  trade  of  a  country  to  conform  to 
any  standard  of  value  that  is  put  out.  Every  thing 
shapes  to  it,  and  all  prices  quadrate,  so  that  at 
home  it  makes  no  difference  in  the  rounds  ;  and  if 


240  NOTES    ON    POLITICAL    fiCONOMY. 

a  nation  bought  nothing  abroad  it  would  mattei' 
but  little  to  her  what  her  standard  value  of  money 
was  stamped  wdth.  Japan,  that  has  no  intercourse 
with  the  world,  need  not  care  what  her  coin  is,  or 
what  value  it  represents.  It  is  in  our  trade  or 
intercourse  with  foreign  nations  only  that  a  base 
medium  is  felt ;  and  whether  there  be  a  disadvan- 
tage or  not  depends,  as  yve  have  said,  on  circum- 
stances. 

Money  or  capital,  most  writers  say,  will  jfind 
its  level  and  keep  up  an  equilibrium,  no  matter 
how  much  the  balance  is  disturbed.  This  is  not 
true.;  and,  like  a  great  many  sayings  that  are  put 
down  as  maxims,  needs  explanation  or  exposure. 
Instead  of  money  rushing  into  the  bosom  of  poverty, 
or  into  the  coffers  of  poor  nations,  it  avoids  them, 
for  the  best  reason  in  the  world — because  they 
offer  no  inducements,  have  nothing  to  sell  or  buy 
the  money  with.  It  avoids  them  on  the  principle 
that  upstart  wealth  would  the  poor — not  because 
they  stink,  but  that  they  have  no  use  for  them,  or 
congeniality  with  them.  Where  labor  is  most  pro- 
ductive  there  will  capital  rush,  for  there  it  will  find 
not  only  products  to  purchase,  but  a  sure  basis 
upon  which  to  make  investments.  Dra\s^,  then, 
the  last  dollar  from  a  poor  nation  to  furnish  its  ne- 
cessary supplies,  and  it  will  scarcely  ever  see  ano* 
ther  dollar ;  for  these  dollars  remain  drawn  until 
she  changes  her  policy  and  makes  her  labor  and 
resources  available,  through  which  to  get  them 
back*    We  have  seen  balances  remain  broken  for 


NOTES  ON  POLITICAL  ECONOMY.       241 

ages,  and  capital  wholly  estranged  from  countries, 
until  their  own  wants  operate  on  them  and  induce 
supplies  created  at  home,  after  which  capital  would 
begin  to  flow  to  them  again.  The  wisest  nations 
of  Europe  have  manifested  the  greatest  anxiety 
when  capital  or  bullion  inclines  to  leave  them : 
England,  when  her  bullion  goes  to  France  for  corn, 
for  she  never  expects  to  see  it  again,  and  never  does, 
for  she  has  nothing  to  sell  to  France;  she  replaces 
it,  however,  by  her  tradings  with  other  and  more 
short-sighted  nations  less  advanced  in  the  great 
policies  of  trade  and  industry.  If  England  and 
France  were  the  only  two  nations  on  earth,  the 
latter,  by  her  wines,  raw  silks,  laces,  and  occasion- 
ally corn,  would  draw  every  dollar  from  England, 
because  she  does  sell  these  things  to  England  and 
buys  nothing.  Small  balances  of  trade  in  favor  of 
a  nation  would,  in  the  long  run,  enrich  her,  and 
exhaust  the  country  against  which  they  stand,  had 
they  not,  in  their  turn,  some  equipoising  balances 
against  other  nations.  Capital  finds  a  thousand 
inducements  to  go  to,  and  be  invested  in,  rich  na- 
tions— none  in  poor  ones  ;  for  it  not  only  is  in  safety, 
but  can  realize  itself  and  its  profits  so  rapidly, 
when  wanted  at  home,  through  the  valuable  pro- 
ducts and  exchanges  incident  to  rich  countries. 
Let  nations,  therefore,  be  guarded  against  letting 
their  capital  go  out  for  the  purchase  of  necessary 
supplies,  for  then  it  never  returns. 

The  balance  of  trade  that  forms  a  part  of  this 
chapter,  is  indicative  of  the  poverty  and  wealth, 

17 


^a  NOTES    ON   POLITICAL    ECONOMY. 

and  also  of  the  wisdom  or  folly  of  nations.  These 
balances  are  either  continual,  or  occasional  only. 
They  are  continually  against  us  in  our  trade  with 
England ;  they  are  occasionally  against  England 
in  her  trade  wuth  the  continent  of  Europe,  particu- 
larly w^hen  her  corn  crop  fails.  When  a  nation 
finds  the  balance  against  her  in  a  fixed  way,  she 
ought  to  stir  herself  immediately  to  change  it,  and 
resort  to  legislative  enactments,  if  it  be  necessary, 
of  the  strongest  and  most  determined  kind,  before 
it  exhausts  too  much.  We,  for  instance,  ought  to 
lay  a  duty  on  English  goods,  sufficiently  high  to 
aflfect  the  eternal  balance  of  eight  or  ten  millions 
that  appears  annually  against  us.  We  might  tax 
the  goods  that  we  are  in  the  habit  of  taking  from 
her  high  enough  to  stop  them,  and  oblige  us  either 
to  make  them  or  take  them  from  nations  that  did 
not  show  an  annual  balance  against  us.  Had  we 
not  a  scouring  trade  with  other  portions  of  the 
world,  that  brought  in  some  profit,  or  a  balance  in 
our  favor,  our  trade  w^ith  England  would  ruin  us 
in  a  few  years.  It  now  not  only  takes  our  precious 
gains  elsewhere,  but  all  the  spare  cash  we  have 
besides,  to  keep  it  up.  It  is  an  unpleasant  idea, 
that  our  active,  enterprising  whalemen  and  traders 
have  to  put  in  requisition  all  the  seas,  all  the  cli- 
mates, and  encounter  dangers,  disease,  and  intense 
labor,  not  to  enrich  us,  but  to  meet  this  English 
balance  that  is  swallowing  up  all  thus  raked  to- 
gether, as  well  as  all  at  home.  How  rich  we  might 
become  under  this  enterprise,  but  for  this  wretched 


NOTES   ON   POLITICAL    ECONOMY.  243 

policy  that  makes  us  subservient  to  England, 
France,  and  the  old  nations  of  Europe  !  A  wise 
nation  would  not  let  a  balance  stand  against  her  in 
any  part  of  the  globe,  would  put  a  finger  on  it  the 
moment  it  occurred,  and  make  some  countervailing 
movement  to  extinguish  it.  In  estimating  the  bal- 
ance of  trade  an  allowance  must  be  made  for  the 
profits  of  the  merchants,  ships,  and  agents,  that  aid 
in  it,  and  add  them  on,  or  deduct  them,  as  circum- 
stances require.  In  times  of  a  carrying  trade,  a 
balance  may  be  sometimes  borne,  when  a  people 
take  goods  from  one  nation  to  another,  and  thus 
realize  a  profit  on  them ;  but  this  profit  must  be 
enough  to  overcome  such  balance,  or  it  is  not  worth 
while.  Our  merchants,  who  scour  the  world  for  a 
profit,  sneer  at  the  idea  of  the  balances  of  trade, 
and  call  them  moonshine  ;  and  our  wiseacre  politi- 
cians, taking  the  cue  from  them,  join  in  the  feeling, 
and  govern  their  laws  and  policies  accordingly. 
Time  shows  this  in  its  true  light,  and  experience 
could  speak  if  its  voice  were  heard.  Had  we  sav- 
ed for  fifty  years  the  annual  balance  England  en- 
joyed against  us,  it  would  have  amounted  to  five 
hundred  millions,  which,  realized  at  home,  would 
have  much  enriched  us,  and  might  have  put  quite 
another  face  on  our  cii'cumstances.  Instead  of  free 
trade  or  any  abstract  doctrine  overcoming,  balances 
of  trade,  they  only  make  them  heavier,  and  wipe 
them  out  in  the  end  by  insolvencies,  or  produce  that 
horrid  state  of  indebtedness  that  in  another  chapter 
we  have  exhibited  against  this  country.  Were  there 


244  NOTES    ON    POLITICAL    ECONOMY. 

now  no  nation  but  this  country  and  England  in  ex- 
istence, how  long  would  we  be  able  to  stand  up  to 
the  balance  against  us  ?  Not  many  years :  and  we 
should  act  as  if  that  were  the  case,  and  correct  it 
accordingly,  if  we  understood  our  own  interests. 

A  question  has  been  started  by  political  econo- 
mists, whether  capital  in  a  few  hands  or  many  is 
most  beneficial  to  a  country.  When  money  remains 
in  the  hands  that  made  it  by  long  savings,  the 
owner  has  a  miserly  feeling,  and  when  he  quits  his 
business,  is  almost  sure  to  become  a  usurer,  and 
grind  down  the  poor  and  needy  by  high  interest ; 
then  it  would  do  no  good.  In  order  to  render  capi- 
tal available,  it  must  be  induced  out  of  the  coffers 
of  the  rich,  to  go  into  stock  companies  or  banks, 
and  be  loaned  out  for  any  useful  purpose,  either  in 
aid  of  internal  improvements,  or  any  great  opera- 
tions of  industry  that  the  wants  or  policies  of  the 
nation  require.  It  then  gets  into  the  hands  of  the 
million,  touches  a  thousand  springs  of  industry, 
stimulates  the  productive  labor  of  the  country,  and 
gives  to  it  the  ability  to  consume  much,  as  well  as 
produce  much.  All  diffusion  of  money  and  increas- 
ed ability,  however,  given  to  a  people  that  buy  their 
supplies  abroad,  does  more  harm  than  good ;  for 
then  the  whole  mass  into  whose  hands  it  has  gotten, 
use  up  this  money  in  purchasing  goods  abroad,  and 
more  of  it  goes  off  than  if  it  had  remained  in  the 
coffers  of  the  few  capitalists  that  owned  it.  We 
furnish  the  sad  case,  as  noticed  in  another  chapter, 
of  a  people  who  borrowed  two  hundred  millions 


NOTES    ON    POLITICAL    ECONOMY.  245 

ftbm  England,  and  scattering  it  into  tli^Wktid's  of 
the  whole  population  by  a  pretence  of  making  ca- 
nals, or  railroads,  or  banking  upon  it,  all,  to  the  last 
dollar,  ran  off  to  Europe  for  goods,  which  are  con- 
sumed and  lost  forever,  and  the  debt  of  the  two 
hundred  millions  fastened  upon  us  and  our  posterity. 
Stock  companies,  chartered  companies,  and  as- 
sociated capital,  as  well  as  associated  labor,  are 
often  necessary  to  develope  some  great  works  and 
make  certain  great  operations,  wholly  beyond  the 
power  and  means  of  individuals  to  accomplish. 
Many  great  interests  would  either  suffer  or  be  left 
untouched  but  for  such  companies  or  associations, 
known  in  law  or  not,  as  the  case  may  be.     Eng- 
land is  full  of  great  works  and  results  from  stock 
companies,  as  large  as  her  capital  is ;  and  France 
has  suffered  much  and  been  kept  back  by  her  re- 
luctance to  go  into  them,  or  the  want  of  confidence 
she  has  either  in  them,  or  in  her  government.     We 
have    done  much  through  stock  companies,  and 
much  yet  remains  to  be  done ;  and  they  are  espe- 
cially beneficial  here  where  capital  is  so  scarce. 
The  members  of  a  stock  company,  all  risking  some- 
ting,  not  the  whole  of  their  means,  can  afford  to  do 
it,  and  have  each  other's  counsel,  support,  and  sym- 
pathy in  the  effort,  whatever  it  be,  and  are  more 
encouraged  to  go  on  under  small  profits.     What 
great  or  noted  work  scarcely  do  you  see  in  Eng- 
land or  this  country,  that  is  not  the  result  of  com- 
panies?     You  see  a  road,  a  canal,  a  bridge,    a 
church,  a  school  or  academy,  a  large  manufactory, 


246  NOTES    ON   POLITICAL    ECONOMY. 

and  you  may  be  sure  they  all  sprung  from  company 
operations.  Our  political  economists  or  politicians 
ought  then  to  encourage  such  companies,  grant  to 
them  liberal  charters,  and  exempt  them  from  taxes 
and  dues.  A  nation  had  better  also  co-operate 
with  such  companies  and  become  a  stockholder 
with  them,  than  to  attempt  any  work  themselves ; 
for  they  are  sure  to  be  imposed  upon  and  defrauded, 
not  only  in  the  outlay  in  constructing  the  works, 
but  in  the  management  of  them.  A  sort  of  un- 
worthy feeling  exists  among  the  people,  that  the 
government  is  fair  game,  and  can  afford  to  be  de- 
frauded. 


CHAPTER    XXVIII. 

POPULATION. 

Population,  the  principles  it  depends  on,  what 
increases  it,  how  it  becomes  stationary  or  retro- 
grades, are  important  questions  for  political  econo- 
mists. It  is  important  to  have  a  full  and  efficient 
population  in  all  countries,  for  the  defence,  wealth, 
and  refinement,  that  ought  to  accompany  every  gov- 
ernment or  association  of  the  human  family.  Po- 
litical economists  should  steer  clear  on  the  one 
hand  of  an  increase  too  fast  for  the  comfortable 
means  of  support,  and  of  a  deterioration  that  would 


NOTES   ON    POLITICAL    ECONOMY.  247 

tend  to  exhaust  or  diminish  her  resources  on  the 
other  hand,  and  also  of  a  stationary  condition  that 
would  stagnate  every  thing  and  produce  a  leaden 
fixture  over  the  land.  New  countries,  with  an 
abundance  of  land,  and  not  a  surplus  of  labor,  ought 
to  encourage  the  increase  of  population  in  every 
way  within  their  reach,  both  by  a  native  growth 
and  an  immigration.  The  natural  check  and  lim- 
it to  an  increase  of  population  is  the  capacity  of 
the  earth  to  support  it  and  feed  it.  To  this  point  it 
tends,  and  nothing  in  the  end  can  prevent  its  reach- 
ing this  maximum.  Under  certain  circumstances 
and  feelings  this  point  will  be  reached  sooner  than 
under  others  ;  and  in  certain  countries  sooner  than 
in  certain  other  countries.  This  is  owing  to  the 
habits  of  the  people.  If  they  are  without  any  pride 
of  style,  and  content  with  bare  support  of  food,  and 
that  of  the  cheapest  and  most  abundant  sort,  they 
will  condense  rapidly,  and  their  natural  increase, 
on  the  principles  that  pigs  multiply,  be  great;  but 
if  they  have  this  pride  of  style  and  comfort  they 
will  increase  slower,  for  they  will  not  then  marry 
without  a  certainty  of  that  style,  and  a  great  por- 
tion remain  unmarried  and  will  contribute  nothing 
to  our  increase.  The  Irish  are  a  striking  instance 
of  a  people  without  pride,  and  who  marry  and  in- 
crease on  potatoes  alone,  in  any  sort  of  a  dirty  hov- 
el. So  long,  then,  as  potatoes  exist  to  feed  on,  will 
they  go  on  multiplying.  The  English,  Scotch, 
French,  and  Americans,  furnish  instances  of  the 
contrary  habit;    and   they   regard  as  necessary 


248  NOTES    ON   POLITICAL    ECONOMY. 

some  style  and  comfort,  before  they  will  marry  at 
all.  This  pride  is  a  wholesome  check  on  an  over- 
grown population  tending  to  suffering,  and  keeps  it 
within  the  limits  of  a  comfortable  support.  A  pop- 
ulation without  pride,  or  decency,  or  taste,  or  capa- 
city to  receive  improvements,  is  worse  than  none, 
and  instead  of  advancing,  a  nation  becomes  a  mass 
of  ignorance,  anarchy,  and  disorder,  that  is  preyed 
upon  by  the  designing,  -and  is  in  the  way  of  any 
real  advancement  for  such  nation.  How  will  this 
thing  be  corrected  or  prevented  7  it  is  asked.  I 
know  of  no  other  method  than  to  cherish  a  proper 
feeling  of  pride  in  a  people ;  give  to  them  the  idea 
that  they  are  not  pigs,  and  that  some  style,  some 
comfort,  and  even  luxuries,  are  absolutely  neces- 
sary to  man.  If  nothing  else  will  accomplish  this, 
let  the  legislators  of  a  country  forbid  marriage,  un- 
less the  parties  make  a  showing  of  the  means  of 
living  decently.  This  can  be  done  by  withholding 
licenses,  declaring  illegal  all  marriages  without 
them,  and  denying  to  the  parents  the  rights  of  citi- 
zens, and  to  the  offspring  the  rights  of  legitimacy, 
and  a  penalty  might  be  superadded  to  insure  it. 
The  growth  of  Ireland,  without  pride  or  means  of 
support,  is  paving  the  way  for  great  distress,  and 
puts  forward  a  worthless  population,  that  is  eating 
into  the  substance  of  the  others,  and  forms  a  check 
to  all  improvements.  There  is  nothing  like  an 
early  attention  to  this  thing,  for  after  it  becomes  a 
habit  it  is  hard  to  break  and  correct. 

Let  a  nation  beware  of  any  measure  that  takes 


NOTES    ON    POLITICAL    ECONOMY.  249 

away  the  rights,  and  of  course  the  pride  and  self- 
esteem,  of  a  large  class  of  the  community,  as  oc- 
curred in  Ireland  in  reference  to  the  Catholics,  for 
it  is  sure  to  prostrate  them  into  very  hrutes.     The 
people  and  their  temples  sink  together  into    the 
dust,  as  in  Ireland,  where  the  priests  followed  and 
adhered  to  the  mass  of  the  Catholics ;  and  all  stand 
together  on  the  lowest  level  of  humanity.    Nothing 
can  raise  them,  for  they  have  their  pastors  with 
them,  and  like  the  smaller  spirits  that  sunk  with 
Satan,  are  content  whilst  the  leaders  share  their 
fate.      A    population    without    pride    cannot   be 
brought   to  labor  effectually,  either  on  the  farm 
or  in  manufactories.     They  have  no  steadiness  of 
purpose,  no  plans,  no  responsibility,  upon  which  to 
act,  and  enforce  an  obligation  to  labor,  or  do  a  job 
of  work.     The  capacity  of  the  earth  to  sustain 
population   scarcely  knows  any  limit,  when   you 
brutalize  man,  and  take  from  him  the  pride  neces- 
sary to  an  amelioration  in  his  circumstances.     If 
the  sort  of  improvement  be  made  that  will  con- 
trol   moisture,    make    at   will  manure,  or    apply 
chemical  stimulants  to  plants,  and  give  to  them 
certainty,  every  rood  will  not  only  sustain  its  man 
but  its  ten  men.     Experiments  show  the  practi- 
cability of  fifteen  hundred  bushels  of  Irish  potatoes 
to  the  acre,  and,  with  a  certainty,  that  is  the  food 
of  forty-five  persons  for  a  year,  in  the  last  resort. 
And  at  that  rate  the  world  is  not  yet  the  ten-thou- 
sandth part  up  to  its  capacity  to  sustain  life. 


250  NOTES   ON    POLITICAL    ECONOMY. 

The  human  family  certainly  are  as  distinct  in 
their  capacity  to  improve,  as  any  two  things  in  na- 
ture can  be.  The  Caucasian,  the  Tartar,  and  the 
Malay  races  advance,  and  improve  their  social  rela- 
tions and  comforts ;  the  Indians,  the  Negroes,  scarce- 
ly at  all,  and  seem  in  some  v^ay  the  woodsmen  of  na- 
ture ;  never  number  a  population  worth  comparing 
to  the  former  races,  and  never  get  out  of  the  wilds  of 
nature.  They  are  fierce  on  the  principle  that  wild 
animals  are,  and  courageous  as  a  hungry  tiger  is,  but 
without  plan,  purpose,  or  providence.  How  differ- 
ently the  continent  of  America  stood  populated 
compared  to  them !  There  was  not  even  a  nu- 
cleus of  a  population  upon  which  to  improve  on  our 
continent.  We  had  to  exterminate  the  race  as  we 
did  wild  beasts,  before  we  laid  the  broad  founda- 
tions of  an  organized  society.  Experience  proves 
that  the  species  were  not  worth  preserving.  All 
tlie  efforts  of  the  humane  have  failed,  and  continue 
to  fail  before  the  energy  of  Europeans.  The  policy, 
therefore,  that  so  deeply  engages  many  philanthro- 
pists, shows  only  the  goodness  of  the  heart,  not  the 
results  prognosticated.  In  the  present  state  of 
our  Indians  the  best  is  done  for  them  that  could 
be  effected,  and  our  political  economists  had 
better  let  it  rest  upon  this  last  pledge  of  the  nation 
of  lands  on  the  western  frontier  for  them  ;  and 
merely  watch  and  defend  from  intrusion  the  inter- 
est thus  conceded.  A  few  more  years  will  destroy 
the  game,  and  then  that  master  necessity,  that  al- 


NOTES    ON   POLITICAL    ECONOxMY.  251 

ways  must  be  obeyed  or  death  ensues,  will  act  on 
them,  and  show  whether  there  is  any  thing  in 
them  improvable  or  available. 

A  curious  problem  grows  out  of  the  relative 
longevity  of  this  country  and  Europe.  It  stands 
on  a  difference,  as  far  as  facts  go  to  show  it, 
of  ten  years  in  favor  of  Europe ;  say  those  fa- 
thers of  families  that  die  at  seventy  in  Europe  do 
not  pass  sixty  years  here.  Now,  if  the  parents  of 
sixty  years  here  have  as  many  children  as  the 
parents  of  seventy  there,  the  only  difference  at 
any  given  time  in  the  population  of  the  two  coun- 
tries will  be  the  few  persons  then  living  between 
sixty  and  seventy  years  of  age,  which  would  not 
much  effect  the  result.  A  greater  degree  of  lon- 
gevity then  is  not  as  much  in  favor  of  a  country^s 
populousness  as  it  might  appear  at  first  sight. 

Fixed  costumes,  fixed  notions  or  modes  of  liv- 
ing, and  fixed  pretensions,  are  what  ought  to  be 
avoided  in  all  countries,  if  possible.  As  soon  as 
a  people  feel  that  there  is  no  more  advancing  for 
them,  that  they  can  accomplish  nothing  more, 
and  have  no  right  to  aspire  to  any  thing  further, 
there  is  an  end  to  all  improvement,  to  all  amelio- 
ration, and  bettering  their  condition.  Such  a 
population  becomes  leaden,  and  not  only  station- 
ary, but  ready  to  fall  back,  and  sink  still  lower 
in  the  scale,  if  any  thing  should  require  it.  If 
mankind  do  not  advance,  the  next  best  thing  is  to 
have  the  wish  to  do  so,  and  the  susceptibility  to 
be  acted  upon  by  favorable  circumstances.    There 


252  NOTES    ON    POLITICAL    ECONOMY. 

is  some  hope  of  them  then,  and  some  foundation 
to  build  on,  when  occasion  calls  it  into  requisi- 
tion. Can  there  be  a  more  dead,  really  inanimate 
state  than  the  castes  of  Hindostan  7  As  well  might 
you  operate  on  dead  matter,  as  to  any  plan  of  im- 
provements, as  upon  such  a  moral  and  political 
fixedness.  Nothing  can  lift  the  great  weight 
above  its  calculated  level ;  nothing  counteract  the 
vis  inertise,  the  mere  gravity  of  the  matter.  In 
many  parts  of  Europe,  the  fixed  costume  and  dress 
of  the  peasantry  seem  to  say,  here  we  are,  and  here 
we  are  destined  to  remain,  and  it  is  folly  to  aspire 
beyond.  In  France,  and  in  many  parts  of  Germa- 
ny, there  are  fixed  costumes  in  the  peasantry, 
that  indicate  their  opinions  of  themselves,  and 
how  devoid  of  pretensions  they  are.  When  a  na- 
tion gets  ready  to  advance  in  manners,  circum- 
stances and  information,  it  should  find  no  difficulty 
in  the  fixedness  and  habits  of  the  people  to  its  pro- 
gress, for  it  loses  time  to  change  these  and  prepare 
them  for  the  changes. 

As  nations  grow  old,  if  they  are  well  governed, 
they  grow  in  comforts  too,  and  are  more  healthy. 
The  bills  of  mortality  in  England,  France,  and 
Holland,  show  better  than  in  our  country.  Fewer 
die  out  of  season,  and  more  of  course  grow  old. 
England  has  ameliorated  in  this  respect  twenty  per 
cent,  within  sixty  years.  The  country  becomes 
chastened,  better  drained,  drier,  better  shaded,  the 
inhabitants  better  sheltered,  housed  and  lodged,^ 
and  warmer  clad.      A  thousand  improvements  take 


NOTES    ON   POLITICAL    ECONOMY.  253 

place  in  their  food,  transportation,  travelling ;  not 
so  much  in  the  quality  of  the  food  as  its  regularity, 
and  mode  of  preparing  it.  Mankind  are  becoming 
more  temperate  in  eating  and  drinking,  as  well 
from  necessity  as  principle.  When  a  people  are 
temperate  and  regular  in  their  diet,  have  not  much 
variety,  and  few  temptations  to  indulgence,  they 
will  be  more  healthy.  The  principal  reason  of 
better  health,  is  the  purer  state  of  the  air,  fewer 
malaria,  and  miasmata,  and  less  nuisance.  There 
is  a  state,  however,  very  different  from  this,  when 
a  nation  as  it  advances  in  population  by  some  bad 
government,  advances  also  in  poverty  and  wretch- 
edness. Disease  walks  then  abroad  among  such 
a  population,  and  strikes  down  its  thousands.  The 
poor  wretches  rather  invite  it  than  avoid  it,  for  it 
becomes  a  relief  to  their  miseries.  None  of  the 
comforts,  none  of  the  precautions  are  prevalent 
that  could  either  prevent  or  cure  the  ill  health 
wretchedness  is  heir  to,  but  the  removal  of  the 
very  cause  of  the  wretchedness  itself,  the  full 
sweep  of  despotism  that  has  produced  such  misery. 
Where  there  are  no  guarantees  of  safety  for  either 
persons  or  property,  one  unrelenting  and  ruthless 
tyrant  stretching  over  the  whole  mass,  and  urging 
and  oppressing  a  thousand  smaller  tyrants,  who,  to 
supply  the  grasping  demands,  have  to  oppress  in 
their  turn  all  the  wretched  population,  until  all  are 
destitute  and  paralyzed ;  what  money  they  have 
then  they  hide  and  make  nothing,  because  rapacity 
would  seize  it.     This  kind  of  a  population  is  not 


254  NOTES    ON    POLITICAL    ECONOMY. 

only  utterly  worthless  and  unavailable,  but  dis- 
eased from  want,  privation,  and  misery.  There  is 
no  remedy  for  such  a  condition — all  is  lost,  all  is 
brutalized,  and  could  not  be  reached  by  any  laws 
or  rules  of  economy,  and  rendered  healthy  and  effi- 
cient, because  there  is  no  foundation  on  which  to 
operate.  Where  tyranny  has  no  check,  property 
and  persons  no  guarantee,  and  industry  no  result, 
economy  can  aid  naught. 


jCHAPTER    XXIX. 

EDUCATION,  AND    THE    PUBLIC    LANDS. 

*  The  education  of  a  country,  and  the  informa- 
tion of  the  people  ought  to  engage  in  the  deepest 
way  our  political  economists  as  well  as  our  politi- 
cians. If  knowledge  is  power,  as  is  properly  said, 
let  us  make  sure  of  its  influence,  and  implant 
it  firmly  in  the  land.  A  people  are  efficient  in 
their  daily  pursuits  exactly  in  proportion  to  their 
information,  and  a  government  wise  and  powerful 
on  the  same  principle.  For  no  purpose,  except  the 
establishment  and  preservation  of  liberty,  should 
a  people  bear  taxation  so  willingly  as  to  raise  a 
literary  fund.  Our  politicians  should  feel  that  no- 
thing was  done  as  long  as  this  great  field  remain- 
ed uncultivated,  as  long  as  any  portion  of  the  peo- 


w^ 


NOTES    ON    POLITICAL    ECONOMY.  255 

pie  remained  in  ignorance.  Education  is  a  nation- 
al concern,  a  first  duty,  and  the  only  true  support 
any  free  institutions  can  have,  upon  which  to  de- 
pend with  certainty.  These  United  States  should 
have  erected  their  great  landed  domain  into  a  fund 
for  the  education  of  the  whole  mass  of  the  people. 
Both  primary  and  finishing  schools,  rudimental 
foundations  and  universities,  the  arts,  and  agri- 
culture, political  economy  and  religious  instruction, 
could  all  have  rested  on  this  wide  basis  and  found 
ample  funds  and  support.  A  course,  however,  un- 
worthy of  such  a  people  with  such  a  fund  has  been 
pursued,  that  threw  it  all  to  the  four  winds,  that 
wasted  these  sacred  means  thus  intrusted,  and  has 
left  the  great  subject  of  education  to  chance  or  to 
the  local  authorities.  The  sticklers  for  state  rights, 
and  the  anti-federal  or  democratic  party,  have  de- 
nied to  the  federal  government  the  power  and  the 
right  over  education  ;  and,  having  the  control  in  the 
councils  of  the  nation,  have  tied  up  the  hands  and 
defeated  the  intentions  of  the  general  government. 
Before  this  influence  was  asserted  and  recognized 
by  the  American  Congress,  it  had  set  apart  one- 
sixteenth  of  all  the  public  lands  as  a  fund  for  pri- 
mary schools  within  the  new  states  where  the  lands 
lie.  They  also  gave  two  townships  of  land  to  each 
new  state  for  a  university  within  the  same.  This 
was  probably  the  commencement  of  a  system  that 
by  some  further  plan,  had  it  not  been  arrested, 
would  have  embraced  the  old  states  also,  that  were 
equally  entitled  to  their  part,  on  every  principle  of 


256       NOTES  ON  POLITICAL  ECONOMY. 

justice,  and  might  have  worked  much  benefit  to 
the  great  cause  of  human  instruction.  This  con- 
tracted decision,  however,  occurred  and  stopped 
the  thing  in  this  partial,  unjust,  and  unfinished 
state,  and  lost  the  only  chance  of  doing  the  great 
w^ork  and  accomplishing  such  a  mighty  purpose. 

The  new  states  who  got  this  landed  fund  have 
wasted  it  nearly  all.  They  sold  the  land  thus 
sacredly  intrusted  to  them  by  virtue  of  their  sove- 
reignty, w^hich  felt  indignant  at  the  idea  of  being 
considered  a  trustee,  even  for  the  benefit  of  their 
own  people,  and  have  expended  the  funds  accruing 
therefrom  either  in  ordinary  expenses,  mad  projects 
of  improvement,  or  in  the  defalcations  of  their  poli- 
ticians and  demagogues,  who  advocated  the  sale 
and  used  up  the  funds  as  they  came  into  their 
hands.  This  landed  fund,  as  partial  and  unjust  as 
it  was,  amounted  in  the  new  states  to  ten  millions 
of  acres,  and  might  have  done  much  good  had  it 
been  saved.  It  would  have  been  sufiicient  to  edu- 
cate the  whole  mass  of  the  population  in  those 
states  for  ever.  Education  now,  although  of  the 
last  importance  to  all  free  people,  is  entirely  de- 
pendent upon  individual  and  state  regulations. 
Some  of  the  states,  to  their  credit  be  it  said — such 
as  the  New  England  states.  New  York,  New  Jer- 
sey— have  created  funds,  and  all  the  people  within 
their  borders  are  really  now  in  the  act  of  receiving 
a  proper  rudiraental  education.  In  the  other  states 
scarcely  any  move  has  been  made  in  it  at  all,  only 
as  individual  settlements  and  inclinations  prompt 


NOTES    ON    POLITICAL    ECONOMY.  257 

to  it.  In  all  the  new  states  the  population  is  so 
scattered  that  no  plan  of  instruction  can  be  suc- 
cessfully applied  to  them.  The  Lancastrian  moni- 
torial system,  as  we  have  said,  can  only  be  applied 
with  any  benefit  to  a  dense  population.  Then  a 
little  money  can  collect  and  educate  all,  or  rather 
put  all  in  a  train  to  educate  one  another.  A  frontier 
man  neither  appreciates  an  education,  nor  is  he  in 
a  condition  to  avail  himself  of  it,  if  he  wished  to 
have  his  children  informed.  He  has  no  neighbors, 
or  not  enough  to  share  with  him  the  expenses ;  and, 
as  he  cannot  do  it  alone,  his  children  grow  up 
without  any,  and  are  content  with  the  knowledge 
of  the  gun,  the  woods,  and  wild  nature,  instead 
thereof.  One-third,  therefore,  of  the  population 
remain  in  ignorance  under  this  chance-medley  sys- 
tem, or  no  system  at  all,  and  are  a  prey  to  design- 
ing politicians  or  demagogues.  There  can  be  no 
dereliction  of  duty  in  a  government  at  all  com- 
parable to  this  total  neglect  and  abandonment  of 
education.  As  well  might  we  surrender  the  great 
principles  of  liberty,  and  make  up  our  minds  to 
yield  up  all  the  benefit  of  free  institutions ;  for, 
without  intelligence  in  the  people,  all  is  compro- 
mited.  It  is  the  first  duty  of  a  national  govern- 
ment to  provide  for  the  education  of  every  indivi- 
dual citizen,  so  far  as  the  rudiments  are  concerned, 
and  not  rest  until  it  be  accomplished.  It  remained 
for  these  wise  statesmen  to  make  the  discovery, 
that  learning  is  a  dangerous  thing  in  the  hands  of 
the  Federal  Government ;  and  that  any  system  of 

18 


258  NOTES    ON    POLITICAL    ECONOMY. 

education  might,   through  it,  jeopardize  our  free 
institutions.     Nothing  but  the  grossest  ignorance 
or  the  most  wicked  designs  could  have  arrived  at 
such  ultra  and  unheard-of  conclusions.     The  very 
existence,  the  self-preservation  of  all  governments, 
would  imply  the  power  to  educate  and  enlighten 
the  citizens,  without  any  expression  in  the  consti- 
tution to  that  effect,  and  all  good  patriots  would  so 
take  it.     This  anomalous,  this  fastidious  and  crip- 
pled government,  however,  has  set  the  example  of 
totally  disclaiming  the  power,  has  wasted  the  great 
fund  that  nature  seemed  to  furnish  her  for  the  pur- 
pose,  and  now  reposes  her  liberty  and   her  best 
policy  upon  accident  or  local  exertions  in  this  re- 
spect.   A  nation  should  found  universities,  collegCvS, 
and  lyceums,  as  well  as  the  primary  schools.     She 
should  collect,  in  connection  with  them,  libraries, 
apparatus,  museums,  cabinets,  and  specimens  for 
all  branches  of  literature.     She  should  also  have 
galleries  of  paintings,  statuary,  and   all  the  fine 
arts ;  and  also  models  and  samples  of  the  useful  and 
mechanic  arts,  as  well  as  an  observatory,  botanic 
gardens,  and  sample  farms.     When  a  nation  moves 
in  these  very  useful  and  necessary  departments  of 
human  knowledge,  all  the  citizens  lend  themselves 
to  them,  and  make  it  a  part  of  their  ambition,  not 
only  to  avail  of  them  but  to  aid  in  every  way  within 
their  reach  and  ability ;  and  they  become  centres 
for  all   valuable    collections,   and   monuments  of 
national  pride.     When    a   nation  provides  funds, 
there  is  certainty  in  the  thing,  and  all  the  people 


NOTES    ON    POLITICAL    ECONOMY.  259 

repose  upon  the  foundations  thus  laid.  A  control- 
ling influence  is  lit  up  by  such  intelligence  that 
tempers  and  directs  the  great  policy  of  the  country, 
and  keeps  in  bounds  those  wayward  politicians  and 
designing  demagogues  that  often  disturb  the  good 
order  and  best  interests  of  society.  Political  econ- 
omists should  not  rest  one  moment  until  they  place 
the  education  of  this  people  upon  a  national  and 
certain  basis.  They  should  cry  aloud  and  cease 
not  until  some  act  of  Congress  be  passed  that  would 
give  either  the  remaining  public  lands  for  the  pur- 
poses of  general  instruction,  or  create  a  fund  in 
some  other  way  that  would  cover  the  whole  ground 
and  fill  up  this  yawning  chasm,  this  blank  space, 
this  dangerous  vacuum  in  the  public  mind. 

If  they  fail  to  excite  this  prostrate  giant  called 
the  Federal  Power  to  action  for  this  purpose, 
then  they  should  travel  down,  or  rather  up,  to  the 
constituent  sovereignties,  the  states  and  city  cor- 
porations, and  urge  it  upon  them,  as  the  only  re- 
maining chance  of  benefiting  the  people  and  estab- 
lishing systems  of  instruction.  The  necessity  is 
daily  becoming  more  urgent,  since  a  general  suf- 
frage walks  forth  through  the  land,  and  converts 
almost  every  male  into  a  voter.  A  general  suffrage 
without  education  is  sure  ruin  to  any  government. 
It  will  throw  all  the  available  interests  of  the 
country  into  the  hands  of  designing  demagogues, 
and  pervert  to  base  and  selfish  purposes  all  their 
resources.  Intelligence  alone  can  stay  such  hands, 
can  say,  Este,  este,  profani ! — hence !  touch  not  the 


260  NOTES    ON    POLITICAL    ECONOMY. 

sacred  rights  of  man  with  polluted  hands  !  So 
regardless  are  our  citizens  of  the  advantages  of 
education,  that  when  vast  funds  are  devised  by 
humane  men  for  the  purpose,  they  are  perverted 
and  wasted,  and  the  best  intentions  of  the  deceased 
not  only  defeated,  but  such  examples  held  out  that 
others  are  deterred  from  so  devising  their  funds,  for 
fear  of  abuse.  Witness  the  great  Gerard  legacy 
to  Philadelphia  for  education,  that  has  been  wasted ; 
and  the  Smithson  legacy  to  the  nation,  equally 
wasted,  or  loaned  out  to  demagogues  in  a  w^ay 
either  to  be  lost  or  not  available.  In  addition  to 
the  funds  provided  for  schools  and  the  necessary 
preparations,  there  should  be  some  penalty  for  not 
using  them,  and  availing  of  the  advantages  thus 
held  out.  No  person  should  be  allowed  to  vote,  or 
hold  office,  or  serve  on  juries,  that  could  not  read 
and  write  ;  and  an  invidious  tax  might  also  be  laid 
upon  such  as  have  property,  obliging  them  to  pay 
more  than  others :  their  shame  and  pride  might 
also  be  acted  upon  by  setting  up  in  the  public 
places,  and  having  it  published  also  in  the  journals, 
a  list  of  the  names  of  such  as  could  not  read  and 
write  in  each  county  and  town.  A  set  of  rewards 
or  distinctions  of  some  sort  might  with  advantage 
be  provided  for  such  as  distinguish  themselves  in 
the  primary  schools,  and  such  should  be  singled 
out  and  sent  up  to  the  colleges  or  finishing  schools 
at  the  public  expense.  A  stimulus  could  thus  be 
given,  not  only  strong  enough  to  carry  all  into  the 
schools,  but  to  put  them  upon  an  effort  for  the 


NOTES    ON    POLITICAL    ECONOMY.  261 

prizes.  The  Lancastrian  monitorial  system  can 
be  applied  with  less  money  and  more  effect  to  a 
dense  population  than  any  other,  and  should  be 
adopted.  As  far  as  practicable,  too,  the  Pestalozian 
or  natural  method  should  be  tried.  The  natural 
signs  of  ideas,  when  used,  give  a  rapid  and  perfect 
perception  of  the  thing  represented.  All  the  phys- 
ical sciences  and  many  branches  of  mathematics 
can  be  taught,  with  great  saving  of  time,  by  speci- 
mens, museums,  and  counters  or  diagrams.  A  small 
expenditure  would  fill  the  lecture  or  school  rooms 
with  these  aids  in  the  acquisition  of  ideas.  There 
should  be  no  distinction  by  separate  classing  of  the 
poor  and  rich  in  the  primary  schools;  the  poor 
scholar,  who  is  educated  at  the  public  charge, 
should  not  know  it,  nor  the  others  with  whom  he 
studies,  lest  he  be  mortified  and  depressed,  and  be- 
come a  butt  or  mark  for  the  others.  Much  may 
be  done  by  night  lectures  in  all  cities  and  dense 
settlements;  and  these  lecture  rooms,  and  the  lec- 
turers, with  the  proper  apparatus  and  specimens, 
should  be  furnished  at  the  expense  of  the  public, 
and  examples  set  by  those  in  office,  and  those  al- 
ready learned,  to  the  laborers,  to  induce  them  into 
them.  When  any  system  of  teaching,  well  sup- 
ported by  the  proper  illustrations,  takes  hold  on 
the  laboring  population,  they  will  not  fail  to  attend 
them,  and  benefit  much  by  them ;  and  these  very 
improving  rendezvous  take  the  place  of  grog-shops, 
gambling,  and  all  sorts  of  dissipation. 

I  think  it  is  entirely  practicable  to  render  all 


262  NOTES    ON    POLITICAL    EJONOMY. 

the  population,  including  laborers  and  operatives^ 
learned,  and  even  scientific,  by  the  aid  of  night  lec- 
tures with  the  proper  appliances,  vs^ithout  taking 
them  from  their  daily  avocations,  or  at  all  interfer- 
ing with  their  productive  labors.  This  would  pre- 
sent a  picture  unknown  to  the  world,  and  realize 
more  than  man  has  ever  aspired  to  or  hoped  for. 
Those  great  capitalists  that  are  moved  by  their 
philanthropy  enough  to  leave  millions  for  the  pur- 
poses of  education,  and  to  enlighten  the  human 
race,  would  do  well  to  order  lecture  rooms  to  be 
built  in  some  large  cities,  and  filled  with  libraries, 
and  apparatus,  and  specimens ;  and  with  a  fund  to 
support  the  necessary  number  of  lectures  on  the 
Pestalozian  plan,  or  natural  method.  They  would 
do  infinitely  more  good  with  a  given  sum  of  money 
in  that  way  than  any  other,  and  build  up  in  the 
hearts  of  men  a  monument  that  would  be  more 
imperishable  than  marble  or  brass.  Had  the  Gi- 
rard  fund  of  three  or  four  millions,  for  instance,  been 
so  directed,  it  could  have  planted  a  lecture  room  in 
every  square  of  the  city,  well  furnished,  and  well 
filled  with  the  proj^er  lecturers  and  appliances. 
Twenty  lecture  rooms,  used  every  night,  w^ould 
embrace  all  the  population  of  such  a  city  as  Phila- 
delphia and  its  liberties,  and  move  the  whole  mass 
up  to  science  and  a  respectable  information.  The 
ground  and  a  building  to  hold  two  thousand  per- 
sons, would  cost,  say  $10,000.  The  library,  and 
apparatus,  and  cabinet  of  each,  would  cost,  say 
$20,000  ;  and  a  fund,  out  of  the  interest  of  which 


NOTES  ON  POLITICAL  ECONOMY.       263 

to  pay  a  lecturer  $1000,  say  $20,000,  would  be  for 
each  building,  its  appliances,  and  lecturer,  $50,000. 
Twenty  such  establishments,  then,  would  only  re- 
quire $1,000,000  to  be  got  up  in  the  complete  way. 
Girard's  fund,  then,  would  have  thus  furnished 
Philadelphia,  New  York,  Boston,  and  Baltimore, 
with  the  means  of  education  in  this  available  way. 
It  would  be  a  good  idea  and  a  national  policy  to 
set  apart  a  yard  or  ground  near,  or  at  the  seat  of 
government,  and  consecrate  it  sacredly  to  the 
monuments  of  such  benevolent  persons  as  devise 
their  estates,  or  give  their  property  for  the  purpo- 
ses of  education,  with  the  appropriate  superscrip- 
tions commemorative  of  the  deed.  Nothing  con- 
nected with  this  government  is  so  discouraging  to 
the  cause  of  liberty,  and  derogates  so  much  from 
the  character  for  intelligence  and  high  manly  feel- 
ing and  an  exalted  patriotism,  as  the  discarding  all 
education  from  the  federal  government,  and  throw- 
ing it  upon  chances.  Our  only  appeal  now  is  to 
the  states,  and  there  we  meet  a  supineness  and  a 
recklessness  in  regard  to  it  that  puts  all  aback,  or 
at  least  postpones  it  indefinitely. 

The  public  glands  or  national  domain  in  the 
United  States  should  engage  the  attention  of  our 
political  economists  and  statesmen.  So  far  they 
have  either  been  wasted,  or  formed  a  subject  of 
controversy  in  all  of  our  legislation,  that  has  inter- 
fered much  with  all  true  and  patriotic  movements. 
The  new  states  have  set  up  claims  continually,  not 
only  through  their  individuals,  but  as  states,  that 


264       NOTES  ON  POLITICAL  ECONOMY. 

have  no  regard  to  justice  or  equity.  No  law  can 
now  be  passed  by  Congress,  scarcely,  that  does  not 
involve  some  question,  or  some  combination,  bearing 
upon  the  public  lands.  As  we  have  said  in  the 
preceding  chapter,  these  lands  should  form  a  fund 
for  a  system  of  education,  primary  schools,  colleges, 
and  so  forth,  that  would  embrace  the  whole  mass 
of  the  people.  The  fund  is  ample,  and  would  bring 
in  a  revenue  of  two  million  dollars  annually.  This 
fund  is  provided  by  nature,  seemingly,  for  the  very 
purpose,  and  would  save  any  further  effort,  or  any 
burthen  of  taxation  upon  the  country.  The  nation 
could  do  very  well  without  this  fund  for  its  ordinary 
wants  or  revenue,  and  would  have  the  satisfaction 
of  seeing  the  great  plan  of  human  instruction  going 
on  without  feeling  the  weight  of  its  support.  This 
fund  might  be  erected  into  a  sort  of  annuity  yield- 
ing not  less  than  two  to  three  millions,  and  would 
insure  what  is  of  vital  importance  to  ail  republics. 
The  temper  of  this  nation  would  not  favor  a  tax 
heavy  enough  to  accomplish  this  great  desideratum. 
A  Bureau  of  Education  would  sound  well  in  the 
departments  of  government,  showing  its  annual  re- 
sults, and  setting  forth  its  funds  and  disbursements. 
A  nation  is  concerned  in  having  every  individual 
raised  from  a  state  of  ignorance  to  one  of  light  and 
intelligence;  to  have  its  voters  all  citizens,  and 
efficient,  instead  of  brutes  and  imbeciles ;  to  have 
men  come  up  to  the  polls  to  think  and  understand 
and  vote  on  the  true  independent  principles,  not 
be  brought  up  as  automatons  or  brutes  by  the  ac- 


NOTES    ON    POLITICAL    ECONOMY.  265 

tive  and  designing  demagogues  for  their  own  base 
purposes.  The  states  are  setting  up  claims  to  the 
public  lands  within  their  dominions,  and  threaten  the 
seizure  of  them.  This  will  be  done  before  many 
more  years  under  our  broad  state-right  feeling,  ac- 
companied with  a  contempt  for  the  federal  govern- 
ment. A  little  more  demagogueism  will  do  it,  and  this 
fund  be  gone  forever.  This  nation  cannot  stay  the 
hands  of  rapacity  when  put  forth  by  the  sovereign 
power  of  a  state,  but  will  stand  by  and  see  it  accom- 
plished without  gainsaying  it.  In  the  present  tex- 
ture, and  under  the  present  feelings  of  the  states, 
every  thing  they  or  any  one  of  them  aims  at  will 
be  acquiesced  in.  Never  will  this  nation  move 
against  a  state,  because  it  has  no  troops  scarcely  of 
its  own  ;  and  the  sympathies  of  the  states  will  pre- 
vent any  state  either  moving  against  a  rebel  or  ra- 
pacious state,  or  furnishing  a  quota  of  militia  to 
help  control  her.  Unless  something  be  done  soon 
with  the  public  lands,  they  will  be  lost  for  all 
useful  or  available  purposes.  The  danger  is  great, 
and  every  year  becoming  more  so,  of  collisions 
between  the  federal  and  state  governments ;  and 
these  public  lands  will  be  that  bone  of  contention, 
most  likely,  that  will  lead  to  them.  It  is  therefore 
the  duty  of  our  statesmen  and  political  economists 
to  turn  them  into  some  useful  channel,  that  all 
might  abstain  from  disturbing,  because  all  would 
be  benefited.  There  is  nothing  of  so  general  an 
interest,  and  that  could  be  so  happily  applied  to  all, 
as  some  just  plan  of  education.     The  next  best  use 


266       NOTES  ON  POLITICAL  ECONOMY. 

that  could  be  made  of  them  would  be  to  get  up 
some  extensive  plan  of  internal  improvementSj  as 
we  shall  hereafter  show. 


CHAPTERXXX. 

INTERNAL  IMPROVEMENTS,  THE  MAIL,  ETC. 

The  great  interest  of  internal  improvements, 
consisting  of  canals,  rail-roads,  common  McAdam- 
ized  roads,  bridge  s,ports,  light-houses,  beacons,  and 
defences,  are  of  national  concern,  and  claim  the 
attention  of  all  political  economists  and  statesmen. 
That  a  nation  should  construct  forts,  and  all  sorts 
of  fortifications  necessary  to  its  defence,  is  not  de- 
nied by  any  party,  not  even  in  this  fastidious  age. 
We  have,  therefore,  made  many  such  works,  and 
perhaps  almost  as  many  as  are  necessary,  or  as 
we  ought  to  make.  We  have  also  gotten  up  a 
corps  of  engineers  and  a  military  academy,  with  a 
bureau  of  surveys,  maps,  designs,  and  admeasure- 
ments, of  our  coast,  its  depth  of  w^ater,  of  our 
heights  and  levels,  and  every  thing  relating  to  the 
defences  of  the  country  and  a  right  understanding 
of  its  resources.  We  have  also  built  the  proper 
number  of  light-houses,  beacons,  buoys,  and  harbors, 
for  the  safety  of  our  commerce  and  navigation. 
We  have  stopped  the  good  work  here,  and  have 
been  rudely  arrested  by  a  set  of  politicians,  under 


NOTES    ON    POLITICAL    ECONOMY.  257 

the  influence  of  the  Jeflfersonian  Virghiia  school, 
who  are  state-right  sticklers,  and  so  construe  the 
federal  constitution  as  to  withhold  the  power  of 
constructing  roads,  canals,  and  bridges.  It  re- 
mained for  these  wiseacres  to  discover  that  it 
would  in  any  way  endanger  or  jeopardize  liberty 
or  the  great  principles  of  freedom,  to  construct  a 
road,  a  canal,  or  a  bridge  !  Such  is  the  pretence, 
howev^er,  as  absurd  as  it  sounds.  The  constitution 
expressly  gives  the  power  to  wage  war,  establish 
post-routes,  and  commerce,  to  all  of  which  the  road 
making  is  indispensable,  and  if  not  named,  would 
have  been  necessarily  implied  ;  yet  these  party  and 
unmeaning  scruples  affect  to  think  differently,  and 
say,  because  it  is  not  named,  it  is  withheld.  Any 
thing  essential  to  the  very  existence  and  preserva- 
tion of  a  government,  would  necessarily  run  with 
that  government  as  a  part  of  its  vital  principle,  of 
its  very  existence,  and  requires  not  to  be  given  or 
named.  So  determined  now  are  they  in  their  rigid 
construction,  and  so  strong  in  the  councils  of  the 
nation,  that  they  not  only  deny  the  powder,  but  car- 
ry out  the  principle,  and  either  stop  or  prevent  any 
work  of  the  kind  from*  being  done.  A  few  of  the 
states  have  the  funds  and  wisdom  to  make  such 
works  by  their  own  means,  and  from  the  impulses 
of  their  own  w^ants ;  but  these  are  local  works, 
hardly  ever  national  in  their  chafacter,  and  lie 
across  the  great  lines  that  a  nation  would  move  in 
rather  than  run  with  them.  New^York,  Massachu- 
setts, Pennsylvania,  Ohio,  and  Maryland,  particu- 


268        NOTES  ON  POLITICAL  ECONOMY. 

larly,  have  done  wonders  in  that  way,  and  some 
of  them  incurred  debts  in  their  zeal  too  large  for 
them,  and  are  either  oppressed  or  discredited  by 
them.  They  have  been  doing  the  work  of  the  na- 
tion, and  as  far  as  they  go  have  redeemed  much 
the  character  of  the  country  in  this  respect.  The 
other  states  are  in  the  mud  and  mire,  and  have  no 
communications  or  outlets  for  their  produce,  except 
such  as  nature  has  furnished  in  some  places  to  their 
hands. 

In  the  last  war  with  England,  it  cost  more  to 
get  our  armies  on  the  Canada  frontier  or  to  New^- 
Orleans  than  the  thing  could  bear ;  hence,  on  the 
northern  frontier,  we  were  never  able  to  collect  a 
force  strong  enough  to  take  Canada,  or  even  pre- 
vent her  annoying,  burning,  and  plundering  of  our 
whole  frontier.  Every  barrel  of  flour  cost  fifty  dol- 
lars, every  barrel  of  pork  eighty  dollars,  and  every 
cannon  used  there  twice  as  much  in  the  transporta- 
tion as  the  cost  of  making  it.  Of  the  one  hundred 
andsixty  millions  of  dollars  which  the  last  war  cost 
the  nation,  eighty  millions  were  for  transportation 
alone — a  sum  which  would  have  built  rail-roads 
and  canals  over  the  whole  space  twice  over.  This 
nation  has  paid  enough  for  the  transportation  of 
its  stores  in  that  war,  and  before  and  since,  to  have 
checkered  the  whole  country  with  the  finest  sort 
of  internal  improvements,  roads,  bridges,  and  ca- 
nals ;  and  if  we  add  the  tax  additional  that  pro- 
duce and  goods  have  paid,  and  had  to  encounter  in 
getting  to  and  from  market,  it  would  have  amount- 


NOTES  ON  POLITICAL  ECONOMY.       269 

ed  to  a  sum  as  large  almost  as  the  English  debt. 
The  mail  now  almost  daily  fails  to  reach  its  desti- 
nation when  it  goes  South  or  West,  because  it  has 
to  flounder  through  the  mud  without  either  roads 
or  bridges  to  facilitate  its  passage.  New  Orleans, 
a  most  important  point  as  to  produce  and  markets, 
fails  to  get  its  mail  in  winter  more  than  half  of  the 
time,  frequently  whole  weeks  together,  at  a  time 
when  the  price  of  her  valuable  staples  hang  on  a 
variable  market.  In  that  market  have  occurred 
cases  where  that  city  has  lost  money  enough  for 
the  w^ant  of  knowing  the  real  state  of  the  market 
in  time,  to  have  made  a  road  all  the  way,  so  as  to 
connect  her  with  the  East — say  five  millions  in 
one  season.  On  the  score  of  a  true  and  regular 
mail,  then,  roads  are  very  necessary,  indeed  almost 
indispensable.  General  information  should  prompt- 
ly reach  every  point  of  the  country,  as  well  as  the 
state  of  the  produce  and  stock  markets,  and  army 
movements.  On  our  long  line  of  frontier,  in  case 
of  invasion,  we  should  be  able  to  throw  all  sorts  of 
supplies  and  defences  to  every  point  with  all  pos- 
sible rapidity,  as  well  as  the  information  of  an  ene- 
my's movements.  How  can  this  be  done  without 
roads,  canals,  bridges,  and  steamboats  1  What 
sort  of  a  nation  is  it  that  folds  its  hands,  and  denies 
to  itself  the  right  and  power  to  do  such  things,  to 
offer  such  facilities,  to  send  forward  all  possible  aid, 
and  impart  the  earliest  information  ?  History  can- 
not furnish  a  parallel  case  of  culpable  and  short- 
sighted forbearance.    Such  politicians  must  be  un- 


270  NOTES    ON    POLITICAL    ECONOMV. 

worthy  guardians  of  the  sacred  cause  of  liberty,  of 
the  invaluable  principles  of  freedom.  They  de- 
serve to  be  stricken  from  their  trust,  and  to  lose 
all  the  boons  that  God  and  nature  have  given  to 
them.  If  we  suffer  so  much  in  the  defences  and 
efficiency  of  our  country  in  war,  and  in  our  mail 
operations,  for  the  want  of  these  intercommunica- 
tions, it  is  still  worse  in  a  commercial  point  of 
view.  War  is  only  occasionally  in  want  of  such 
things — commerce  ever.  A  stream  of  commerce 
is  always  wanting  to  pour  its  wealth  and  comforts 
into  the  interior,  and  every  day,  every  hour,  en- 
counters these  difficulties. 

We,  like  inconsistent  beings  as  we  are,  go  to 
great  expense  in  inducing  a  trade  or  commerce  to 
our  strand  from  abroad,  and  there  leave  it  to  find 
its  ultimate  consuming  market  in  the  interior  as 
best  it  can,  or  not  at  all  in  some  cases.  Our  power 
ceases  at  the  strand ;  we  cannot  aid  it  further.  The 
ten  millions  a  year  that  we  expend  in  inducing  it  to 
our  straad  and  accumulating  it  there,  by  our  naval, 
harbor,  light-house,  beacon,  and  buoy  fixings,  is 
worse  than  lost,  unless  w^e  render  it  available  after 
that,  and  aid  it  in  finding  the  consumers.  The  ab- 
surdities of  our  politics,  taking  into  the  estimate 
our  state-right  doctrines,  anti-tariff  operations,  anti- 
improvements,  and  all  the  other  inconsistencies  that 
eternally  envelope  us  and  our  policy,  are  more  mys- 
terious than  the  Egyptian  Sphinx  or  the  Delphian 
Oracle ;  and  the  motives  that  inclined  our  politicians 
to  such  things  are  entirely  inexplicable  on  any  prin- 


NOTES    ON    POLITICAL    ECONOMY.  271 

ciples  that  ordinarily  govern  men.  Our  pride,  our 
nationality,  patriotism,  love  of  glory  and  honor, 
and  even  of  a  rational  liberty,  seem  entirely  ex- 
tinct, or  some  very  different  feelings  would  seize  on 
us  and  direct  our  policies.  In  this  age  of  improve- 
ment, of  development,  and  amelioration  in  every 
department  of  human  economy,  why  do  we  not 
only  stand  still,  but  throw  back  the  w'hole  advance 
of  this  nation  ?  When  the  world  is  educating  it- 
self, w^hy  are  we  in  ignorance?  When  commerce 
envelopes  the  whole  human  family,  throws  around 
and  among  them  every  variety  of  comfort,  and 
every  luxury,  as  well  as  necessity,  why  are  we 
throwing  across  its  currents  these  chevaux-de-frises 
of  ^and  and  flood,  and  bars  of  every  sort  ?  When 
a  creative  resource  walks  forth,  and  with  its  sacred 
wand  touches  into  life  and  existence  thousands  of 
values  that  had  been  long  dormant,  why  do  w^e  stay 
the  magical  and  wonderful  operations  ?  When  the 
arts  all  want  the  aid  of  some  paternal  government 
to  foster  and  cherish  them,  why  are  w^e  a  blank  1 
When  mankind  are  condensing  into  villages  and 
settlements,  and  not  only  teaching  each  other,  but 
enriching  all  the  social  relations,  why  are  we  scat- 
tering off  into  the  woods  and  wilds,  into  Texas, 
Oregon,  and  the  far  west,  and  hiding  ourselves 
from  all  these  social  enjoyments  and  sympathies  7 
When  manufactures  are  encouraged  the  world 
over,  and  every  people  trying  to  supply  themselves 
with  the  elegancies  and  comforts  of  life,  and  form  a 
foundation  on  which  to  trade  and  hold  intercourse 


272        NOTES  ON  POLITICAL  ECONOMY. 

with  all  the  world,  why  are  we  clodhoppers,  and 
not  only  suspended  in  this  great  field,  but  depen- 
dent upon  and  slaves  to  other  nations  and  people 
who  are  more  alive  to  their  interests  1  Why  do 
we  not  brighten  our  escutcheon,  hold  ourselves 
forth  as  worthy  of  the  liberty  intrusted  to  our 
hands,  and  exhibit  a  people  well  instructed,  well 
clad,  well  furnished,  and  proud  of  their  country ; 
instead  of  warring  upon  our  own  institutions,  and 
grinding  all  our  character  as  w^ell  as  our  best  inter- 
ests into  the  very  dust  ?  Go  to  England  :  she  is  a 
unit  in  power,  by  the  facility  her  roads,  canals,  and 
steamboats  give  her,  and  passing  rich  from  her  man- 
ufactures. Go  to  France  :  she  is  connecting  the 
two  seas  that  she  is  contiguous  to,  by  roads,  and 
canals,  and  the  wine,  corn,  and  manufacturing  dis- 
tricts. Go  to  Germany :  the  Rhine  and  the  Elbe 
are  coming  together ;  the  Baltic  and  German  seas, 
the  Adriatic  and  the  Danube,  and  all  are  teeming 
forth  their  interchanges  and  trade,  until  Germany 
is  at  last  really  one  nation,  whether  emperors,  kings, 
or  princes  govern  her.  Go  even  to  Russia,  where 
lately  the  slave  was  tracked  in  his  own  snows  by 
his  chains  only  :  now  the  Black  and  the  Baltic  seas 
are  coming  together  into  commercial  communion  ; 
the  Caspian  and  the  Baltic,  the  latter  and  tlie 
White  sea ;  the  whole  moving  in  the  great  work  of 
intercommunications  and  commercial  thrift,  and  the 
autocrat  now  playing  with  railroads  instead  of  hu- 
man life,  and  delighting  in  commerce  rather  than 
human  misery  and  butchery.     Why  do   we  stand 


NOTES    ON    POLITICAL    ECONOMY.  273 

with  folded  arms  and  look  on  these  mighty  move- 
ments? 

It  is  for  us  above  all  others  to  be  foremost  in 
the  race,  in  such  great  facilities.  A  wise  politician 
could  scarcely  conceive  of  a  people,  especially  one 
pretending  to  more  freedom  than  any  others,  and 
one  to  whom  the  very  palladium  of  modern  liberty 
is  intrusted,  her  very  temples  consigned,  standing 
still,  and  not  only  seeing  all  others  outstripping  her, 
but  doggedly  refusing  to  move  at  all.  A  nation 
that,  worse  than  the  wagoner  who  prayed  to  Her- 
cules, neither  helps  herself  nor  is  asking  others  to 
help  her.  She  sees  her  lights  one  after  another  ex- 
tinguished or  eclipsed  by  her  rivals,  for  the  want  of 
an  equal  or  proper  movement.  A  chance-medley 
people,  whose  forests  shelter  them  instead  of  regular 
defences ;  whose  instincts  serve  them  instead  of  light 
and  information  ;  who  associate  with  wild  animals 
instead  of  rational  beings;  and  live  without  wants, 
rather  than  make  and  protect  the  fruits  of  their  labor, 
the  things  necessary  to  refinement  and  civilization. 
We  require  rapid  movements,  we  need  free  and 
certain  and  available  intercourse  to  understand 
each  other's  plans,  enjoy  each  other's  society,  and 
exchange  each  other's  varied  and  useful  products. 
Can  rational  liberty  live  in  the  wilds,  where  be- 
longs only  an  unrestrained  nature  ?  Can  freemen 
speak  in  the  boldness  of  independence,  and  have/ 
their  voices  heard,  when  hid  in  remote  and  unhaly 
lowed  places  ?     The  first  lesson  I  would  give  to  a 

19 


2T4  NOTES    ON    POLITICAL    ECONOMY. 

free  people,  lo  an  independent  nation,  would  be  to 
circulate  freely,  bring  every  interest  and  every  in- 
dividual together,  and  give  and  receive  each  other's 
ideas  and  sympathies  rapidly,  and  continually. 
Move  in  mass,  think  in  concert,  and  grow  strong 
in  each  other's  sympathies.  We  have  one  liherty 
to  defend,  one  long  line  of  territory  to  protect  and 
guard,  and  a  very  varied  commerce  to  diffuse  to 
every  part.  Let  us  then  enter  on  a  system  of  in- 
ternal improvement  in  earnest,  depart  from  those 
illiberal  and  jealous  and  confined  notions  that  sus- 
pend our  very  existence  as  well  as  prosperity.  Let 
us  be  a  nation  worthy  of  the  times,  worthy  of  a  free 
and  enterprising  people,  and  show  to  the  world  an 
example  of  activity,  intelligence,  and  energy,  that 
will  call  down  their  admiration  upon  us,  and  gain 
for  us  our  own  esteem,  and  that  glory  and  honor 
that  are  more  necessary  to  republicans  than  any 
oU^er  sort  of  people.  Let  us  have  roads,  canals, 
schools,  monuments  of  the  arts,  galleries  for  taste 
and  excellence,  and  every  thing  that  would  not 
only  show  us  a  nation,  but  preserve  us  such.  It  is 
time  the  parts  had  yielded  to  the  whole,  the  states 
to  the  federal  government,  as  far  as  is  necessary  to 
national  character  and  respectability.  The  states 
will  be  in  contempt,  be  in  broken  and  scattered 
fragments,  as  soon  as  the  central  power  be  put 
down.  Like  the  elegant  mirror  of  the  parlor,  as 
a  whole  it  reflects  all,  and  multiplies  perfect  and 
^rand  images  of  the  scene,  but  if  dashed  by  rude 


NOTES    ON    POLITICAL    ECONOMY.^  275 

hands  into  fragments,  each  piece  does  but  reflect 
some  disordered,  disjointed  view  of  the  grand 
whole. 

As  we  have  said  before,  unless  we  could  agree 
to  appropriate  the  landed  domain  for  a  great  plan 
of  education,  the  next  best  thing  that  we  could  do 
with  it  would  be  a  plan  of  improvements  that 
would  cover  all  the  ground,  aid  our  war  defences, 
our  mail  transpoVtation,  the  distribution  and  diffu- 
sion of  our  commerce,  the  carrying  off  of  our  large 
agricultural  productions,  and  the  bringing  us  to- 
gether for  mutual  instruction  and  sympathy  of 
feelings,  as  a  people  of  the  same  nation.  Facilities 
given  to  remote  settlements  to  send  off  their  pro- 
ductions, often  carry  with  them  a  creative  power, 
often  give  value  to  what  possessed  none  before, 
and  increase  that  of  all  others.  A  thousand  things 
along  the  line  of  railroads  or  canals,  that  lay 
without  notice  or  any  value,  come  forth  when 
touched  by  this  magic  wand  into  being  and  availa- 
bility ;  citizens  often  get  a  shaking  up  from  a 
state  of  lethargy  into  which  they  had  fallen,  and 
become  actively  useful  and  intelligent.  Often  the 
means  of  doing  some  good  work,  founding  some 
useful  institutions,  are  thus  awakened  and  brought 
forth  into  use.  We  feel  as  if  we  were  in  the  great 
world,  and  an  efficient  part  of  it,  when  we  daily 
are  thrown  in  communication  with  it,  and  made  to 
act  our  parts. 

'    What  a  beautiful  system  of  roads  and  canals 
might  have  been  made  in  connection  with  the  pub- 


276  NOTES    ON    POLITICAL    ECONOMY. 

lie  lands  !  Lines  of  roads  and  canals  might  have 
been  pushed  into  all  the  new  states,  and  through 
them  in  all  directions ;  and  after  they  were  finished 
the  lands  alongside  of  these  lines  would  have  sold 
in  all  cases  for  as  much  more  than  they  did  as  these 
works  cost,  and  the  country  thus  have  had  the  im- 
provements for  nothing.  The  foresight  of  political 
economists  would  have  foreseen  it,  but  that  of 
demagogues  never  looks  to  such  advantages.  The 
opportunity  is  lost  forever,  and  the  lands  wasted, 
or  so  much  gone  as  to  be  inadequate  to  such  a  plan 
for  the  perfection  of  which  they  were  susceptible, 
degrading  doctrine  of  constitutional  difficulty,  now 
ties  up  the  fund  forever,  and  holds  the  hands  of  this 
imbecile  government.  The  states  have  set  up  a 
great  automaton  called  the  Federal  Power,  whose 
limbs  are  clay  and  whose  force  is  nothing.  Like 
the  Indian's  idol,  they  mock  it,  and  teach  other  na- 
tions also  to  disregard  it,  and  laugh  at  its  awkward 
appearance  and  helpless  condition.  Nothing  can 
fill  up  the  measure  of  this  nation's  destiny  but  in- 
tercommunications that  will  bring  all  the  parts  to- 
gether, and  effectuate  that  rich  commerce  that  such 
varied  and  valuable  productions  would  naturally 
sustain.  Nothing  can  amalgamate  this  people, 
make  them  united,  and  their  government  a  unity 
in  its  effect,  but  such  facilities. 

The  post-office  department  is  entitled  to  all  con- 
sideration from  statesmen  and  political  econo- 
mists, as  bearing  upon  its  wings  the  information 
that  must  concern  the  whole,  and  summoning  all 


NOTES    ON    POLITICAL     ECONOMY.  277 

to  obey  the  same  impulses  in  danger,  and  feel  the 
same  interest  in  the  grand  routine  of  daily  duties 
and  daily  operations.     If  a  people  be  highly  educa- 
ted, and  intelligent  enough  to  read  much,  the  mail 
furnishes  the  pabulum  of  this  very  laudable  appe- 
tite, and  may  be  regarded  as  the  handmaid  of  edu- 
cation as  well  as  politics.     The  presses  are  teem- 
ing now  with  cheap  and  useful  matter,  that  ought 
to  reach  every  part  in  the  greatest  cheapness  and 
with  all  possible  despatch.     Novelty,  that  seizes 
so  strongly  on  the  mass  of  mankind,  ought  to  be 
made  available  whilst  the  curiosity,  the  natural 
manifestation  of  it,  be  active  and  fresh.     Staleness 
in  reading  matter  blunts  much  the  appetite  for 
reading.     It  is  in  commerce  and  politics,  however, 
that  the  mail  is  most  important.     A  f||ee  people 
should  have  the  freest  and  most  rapid  intercourse 
with  one  another;  and  all  the  parts,  even  the  most 
remote  settlements,  ought  to  know  what  the  centre 
and  every  other  district  is  doing,  and  how  they  feel 
on  all  subjects  and  measures.     The  post  is  more 
important  to  a  free  people,  to  republicans,  than  to 
the  inhabitants  of  a  monarchy  or   of  a  despotic 
government.     In  the  former  all  correctives  must 
move  from  the  people  ;  in  the  latter,  they  have  but 
little  to  do  with  any  operation  of  the  nation,  and 
it  suffices  such  government  to  convey  orders  only 
to  the  subject.     There  is  something  vivifying  and 
exciting  in  a  rapid  mail   communication  to   free 
people,  that  keeps  alive  the  full  tide  of  patriotic 
feelings,  and  modifies  them  as  the  exigencies  of  the 


278  NOTES    ON   POLITICAL    ECONOMY. 

country  require.  When  any  thing  retards  or  ob- 
structs the  mail,  there  should  be  a  power  and  a 
fund  to  act  immediately  and  remove  the  difficulty. 
Nothing  would  argue  so  much  a  defect  in  the  poli- 
cy of  a  nation,  a  carelessness  in  the  important  ar- 
rangements necessary  to  the  efficiency  of  a  govern- 
ment, as  a  neglect  of  the  mail  communications. 
This  nation  is  denied,  as  we  have  said,  the  power 
of  constructing  roads,  or  building  a  bridge,  no  mat- 
ter how  essential  to  this  movement.  Whole  quarters 
of  the  United  States,  particularly  in  the  new  states, 
and  in  the  slave  districts,  are  without  roads  neces- 
sary to  a  regular  mail.  New  Orleans,  even  with 
invaluable  productions,  sometimes  fails  to  get  a 
mail  for  weeks  at  a  time,  as  we  said,  and  its  great 
market  all  the  time  groping  in  the  dark,  and  often 
losing  money  by  buying  and  selling  at  hazard. 
This  renders  a  people  discontented,  and  sinks  the 
government  into  contempt  with  them,  or  in  their 
estimation.  They  have,  consequently,  less  patriot- 
ism and  regard  for  the  institutions  of  their  country, 
finding  them  thus  unavailable,  and  liable  to  per- 
verted constructions.  Can  any  thing  but  con- 
tempt attend  on  a  power  that  cannot  make  a  road, 
must  submit  to  chance  the  movements  necessary 
to  a  war,  to  the  mails,  to  that  intercourse  so  essen- 
tial to  comfort  and  unity,  and  to  a  varied  and  rich 
commerce  ?  The  people  are  taxed  more  to  get 
their  supply  of  goods  to  the  consuming  points  after 
they  reach  our  shores,  than  bringing  them  from 
Europe  or  the  Indies.     The  mail,  in  order  to  get 


NOTES    ON    POLITICAL    ECONOMY.  279 

along  over  such  roads,  has  to  charge  two  or  three 
prices  for  a  letter  or  newspaper.  It  costs  more 
money  to  get  a  letter  from  Buffalo  to  New  York, 
than  it  does  a  barrel  of  flour ;  more  to  get  a  letter 
from  New  York  to  New  Orleans  than  a  barrel  of 
pork ;  because  the  sea  is  open  for  commerce,  not 
for  the  mail,  which  has  to  take  the  mud.  In  the 
last  war  the  commanding  general  at  New  Orleans 
was  enforcing  martial  law,  and  imprisoning  civil 
officers  a  month  after  peace  was  declared,  because 
the  mail  could  not  bring  the  intelligence.  It  is 
indicative  of  a  good  government  to  find  its  commu- 
nications perfect,  its  mail  certain  and  rapid,  and 
its  tribunals  of  justice  prompt  and  independent. 
Then  the  people  feel  together,  act  together,  and 
have  each  other's  sympathies  and  support. 

The  most  alarming  thing  for  all  true  patriots  in 
regard  to  the  post  department  is  the  deep  and  open 
corruption  that  runs  through  it.  This  wide-spread 
facility  is  seized  by  the  corrupt  and  designing  to  ope- 
rate upon  and  influence  the  great  mass  of  ignorance 
that  constitutes,  in  all  countries,  the  large  majority 
of  the  population.  The  party  in  power,  through  the 
mail,  wields  20,000  franks  in  the  deputy  postmasters, 
and  1,000  others  arising  from  the  other  departments 
and  offices  of  the  government,  and  can  use  them 
all  for  party  purposes,  because,  having  the  appoint- 
ment of  all  these,  it  can  insure  their  subserviency. 
Tell  me  not  that  this  will  not  be  done.  It  has  been 
done  all  the  time  within  the  last  twelve  years,  is 
done  now,  and  will  be  done  so  long  as  dishonesty 


280  NOTES   ON    POLITICAL    ECONOMY. 

rules  the  land.  Could  mathematics  run  through  all 
this  complexity  of  corruption  and  undue  influence, 
I  believe  it  might  be  proved  that,  w^ithin  the  time 
named,  a  certain  party  have  maintained  themselves 
in  office,  and  insured  the  succession  of  their  minions, 
more  by  the  aids  of  these  corruptions  of  the  mail 
than  all  other  circumstances  put  together.  Into 
what  part  of  the  United  States  do  we  go,  even 
the  darkest  corners  thereof,  without  seeing  the  mail 
delivering  whole  stage  loads  of  this  party,  one- 
sided, lying  matter,  in  the  shape  of  newspapers,  let- 
ters, extras,  and  dictations  of  some  kind,  all  franked, 
or  to  be  franked,  and  distributed  among  the  people? 
Whole  packets  are  daily  sent  to  deputy  postmas- 
ters, who  have  their  standing  orders  to  put  names 
on  and  distribute  each  number  to  some  person  in 
their  neighborhood,  ignorant  enough  to  be  influ- 
enced or  vain  enough  to  be  flattered  by  this  sort  of 
attention.  These  officers  are  taxed  a  commission  on 
their  salaries,  first,  to  frank  these  lying  journals,  and 
then  their  honesty  taxed  to  give  distribution  to  them. 
It  never  occurred  to  our  Washingtons,  Adamses,  Ma- 
disons,  Monroes,  and  such  single-hearted  honest  men, 
that  the  20,000  postmasters  were  to  be  converted 
into  corrupt  tools  of  party,  as  well  as  their  offices; 
swear  allegiance,  act  to  dictation,  and  be  taxed  in 
their  little  salaries  besides,  to  insure  the  continu- 
ance of  their  masters  and  themselves  in  power  ! 
Yet  such  has  been  the  case.  No  honest  man  would 
believe  the  hundredth  part  of  the  facts,  if  truly 
stated,  regarding  the  corruption  of  this  department; 


NOTES    ON   POLITICAL    ECONOMY.  281 

they  exceed  all  previous  conceptions,  and  would 
appal  the  honest  citizens  if  made  visible. 

What  is  the  remedy  for  this  crying  evil,  this 
fully-fledged  corruption  ?    I  answer,  that  all  honest 
patriots  who  reflect  on  this  subject  say,  that  the 
nation  is  lost  without  a  reform  that  reaches  the 
very  source  of  the  corruption.     The  franking  pri- 
vilege, as  useful  as  it  might  be  made,  must  be  dis- 
continued, and  denied  not  only  to  the  20,000  post- 
masters, but  to  our  public  officers,  except  the  Pre- 
sident.    The  tenures  of  the  offices  of  the  deputy 
postmasters  must  be  made  permanent,  or  during 
honest  behavior,  and  placed  beyond  the  power  of 
not  only  the  head  of  that  department  to  remove,  but 
the  President  himself;  the  interchanges  of  nev^^s- 
paper  editors  be  prohibited  or  limited,  and  all  use- 
less matter  that  now  goes  free  be  either  thrown 
out  or  made  to  pay.     That  all  the  matter  that  goes 
by  mail  be  made  to  pay  in  advance,  and  all  post- 
age put  down  to  the  lowest  possible  rate  that  pro- 
mises to  pay.     Nothing  short  of  the  above  regula- 
tions will  correct  this  hugest  of  all  corruptions,  or 
cleanse  the  Augean  stable  of  political  bribery  and 
filth.    Some  writer  has  said,  "  Give  me  the  making 
of  the  ballads,  the  people  will  sing,  and  I  will  gov- 
ern them;"    and  I  say,  give  me  the  mighty  lever- 
age of  20,000  active  tools,  with  their  20,000  franks, 
and  I  will  govern  them  with  much  more  certainty. 
Honest  newspapers  or  opposing  journals,  and  fre- 
quently letters  on  business,  are  kept  back,  to  make 
room  for  the  mass  of  corruption  that  is  claiming 


282  NOTES    ON    POLITICAL    ECONOMY. 

distribution  for  political  effect.  These  20,000 
agents  are  placed  in  the  very  best  positions  for 
popular  effect;  and  their  own  voices  not  only  raised 
in  favor  of  their  dishonest  employers,  but  backed 
by  these  innumerable,  one-sided,  lying  letters  and 
journals.  Were  all  the  matter  thus  availed  of 
charged  full  postage,  it  would  double  the  revenues 
of  that  department.  Hence  treble  postage  is 
charged  on  the  honest  citizen  to  enable  the  depart- 
ment to  wield  all  this  corruption,  and  obliges  hon- 
est citizens  to  employ  private  mails,  at  one-third 
of  the  price,  to  insure  to  them  certainty  in  the  deli- 
very and  keep  them  out  of  this  corrupt  contact. 


CHAPTER   XXXI. 

REPRESENTATION,   PUBLIC   OPINION,    SUFFRAGE. 

Governments  are  very  much  dependent  upon 
public  opinion,  which  is  all-powerful  when  enlight- 
ened and  free  to  act,  with  the  facilities  of  rapid 
interchanges.  It  becomes,  then,  a  capital  object  to 
render  this  opinion  as  intelligent  as  possible,  and 
as  prompt  as  any  circumstances  can  render  it.  In 
Europe,  now  under  monarchies,  and  many  of  them 
absolute,  public  opinion  walks  forth,  and  not  only 
stays  the  hands  of  the  rulers  from  violence  and 
injustice,  but  directs  their  acts  to  the  great  pur- 


NOTES    ON    POLITICAL    ECONOMY.  283 

poses  of  the  general  good.     The  representation  in 
Europe,  constructed  as  it  is,  must  be  nominal,  is 
very  partial  and  defective,  and,  if  it  acted  accord- 
ing to  its  constituent  base,  v^ould  be  one-sided  and 
unjust.    Fortunately  for  those  countries,  an  enlight- 
ened public  opinion  steps  forward  and  supplies  this 
glaring  defect  in  the  representation,  and  points  so 
strongly  and  steadily  to  the  real  interests  of  those 
countries,  that  it  must  be  obeyed,  and  does  really 
control  the  minds  of  the  rulers,  and  direct  their 
policies  and  acts.      All  that  this   public  opinion 
needs    to    render    it    efficient    is    to    be    intelli- 
gent, and  for  the  citizens  to  hold  rapid  commu- 
nications with  one  another,  in  every  part  of  their 
own  nations,  and  with  other  countries.     England 
and  France  are  proverbially  under  the  influence  of 
public  opinion,  w^liich  corrects  the  defects  in  a  great 
degree  of  their  representation.     Prussia,  and  Aus- 
tria, and  the  German  States,  although  absolute  in 
the  construction  of  their  governments,  have  become 
just  and  paternal  by  force  of  public  opinion,  and 
are  now  almost  patterns  of  all  that  is  just,  wise, 
and  efficient  in  governments.     The  high  system  of 
schools,  and  the  broad  principlesof  justice  that  are 
now  a  part  of  the  very  foundations  of  those  coun- 
tries, furnish  some  substitutes  for  a  legislative  re- 
presentation and  chambers.     All  the  ameliorations 
nearly  that  the  world  is  now  making  are  from  the 
impulses  of  public  opinion.     All  interests  become 
safe,  and  perfect  guarantees  spring  up  against  any 
injustice  or   violence  offered  to  persons  and  pro- 


284  NOTES    ON    POLITICAL    ECONOMY. 

perty,  and  repose  mankind  on  this  everlasting 
foundation.  The  English  parliament  and  the 
French  chambers  are  in  their  very  basis  so  defec- 
tive that,  but  for  public  opinion,  the  crown  could 
control  them  and  convert  them  into  tools  of  power. 
They  dare  not  do  it,  however,  nor  suborn  them  to 
act  contrary  to  the  general  interest,  fearful  of  this 
master  of  all,  public  opinion ;  which,  identified  with 
the  general  interests,  steps  forth  and  says  to  the 
monarch,  "  so  far  shalt  thou  go,  and  no  farther," 
and  has  to  be  obeyed.  Public  opinion  removed  the 
Catholic  disqualifications,  and  corrected  the  worst 
features  of  the  rotten  boroughs  in  England,  and  is 
now  laboring  to  do  away  the  oppression  of  the 
corn  laws  and  the  tithes,  or  so  modify  them  as  to 
make  them  less  unjust.  Public  opinion  is  not  con- 
fined in  the  old  world  to  the  civilized  districts  only ; 
it  is  penetrating  the  barbarous  and  despotic  regions 
of  Russia,  and  is  reaching  the  very  palace  of  the 
Mussulman.  The  autocrat  dares  not  disregard  it, 
dares  not  sport  with  the  lives  of  his  subjects,  nor 
do  flagrant  or  whimsical  acts  of  injustice.  The 
Grand  Turk  finds  his  account  in  some  observance 
of  justice,  some  amelioration  of  old  forms,  some 
relaxation  of  the  intolerant  pretensions  so  long 
acted  upon. 

I  regard  an  enlightened  public  opinion  as  less 
liable  to  err,  and  abetter  safeguard  for  human  rights 
and  general  interests,  than  a  defective  representa- 
tion based  on  improper  ratios,  or  constituted  by  that 
broad  general  suffrage  that  is  under  the  influence  of 


NOTES    ON   POLITICAL    ECONOMY.  285 

party.  A  representation  based  on  the  rotten  bor- 
ough system,  if  it  acts  apart  from  public  opinion, 
is  sure  to  be  subsidized  by  the  aristocracy  ;  and  the 
one  based  on  a  general  suffrage  that  is  brought  up 
to  the  polls  by  the  designing,  is  sure  to  disregard  the 
better  opinions  of  the  citizens,  and  co-operate  with 
those  who  constitute  it  for  selfish  and  corrupt  pur- 
poses. This  last  sort  of  representation  is  harder 
to  control  than  any  other,  because  it  feels  secure  on 
this  broad  basis  of  general  suffrage,  and,  wielding 
it,  puts  at  defiance  legitimate  public  opinion,  and 
boldly  delights  in  injustice  and  selfishness.  Instead 
of  the  ignorant,  the  unsubstantial,  and  the  foreign- 
ers, without  any  hold  on  the  country  or  interest  in 
it,  that  our  demagogues  and  designing  politicians 
now^  marshal  at  the  polls,  there  should  be  voters 
who,  from  their  own  impulses  of  patriotism  and 
substantial  interest,  would  sustain  the  great  policies 
of  the  nation.  How  are  these  to  be  insured  and 
made  to  prevail  7  I  answer,  in  no  other  way  than 
by  confining  the  suffrage  to  the  intelligent  and 
substantial  of  the  nation.  Experience  now  tells 
us,  in  a  language  too  plain  to  be  mistaken,  that  the 
suffrages  of  any  nation  must  rest  upon  a  property 
qualification,  in  order  to  insure  prosperity  and  na- 
tional honor.  Such  voters  would  send  forth  the 
proper  sort  of  representatives,  and  support  those 
policies  and  enactments  calculated  to  advance  the 
country — not  party  designs.  Party  spirit  then  would 
be  hushed,  unworthy  and  dishonest  motives  ban- 
ished our  legislative  halls,  and  views  of  high  na- 


286  NOTES    ON    POLITICAL    ECONOMY. 

tional  interest  all  the  time  uppermost.  The  strug- 
gle for  the  loaves  and  fishes,  the  odious  and  corrupt 
doctrine  that  "  to  the  victors  belong  the  spoils," 
would  be  scouted  from  our  councils  and  cabinets, 
and  give  place  to  a  pure  patriotism  that  would 
breathe  forth  its  aspirations  for  the  public  good. 
I  would  feel  that  all  was  safe,  if  I  could  see  an  en- 
lightened public  opinion  lifted  above  the  broad  and 
corrupt  basis  of  a  general  suffrage,  and  taking  the 
direction  of  affairs.  It  would  then  speak  as  loudly 
at  the  polls  as  in  the  legislatures  and  councils,  and 
bear  its  corrective  in  a  way  to  be  available. 

How  is  public  opinion  to  be  enlightened  enough 
in  this  country  to  be  an  efficient  guide  and  correc- 
tive? We  have,  as  said  before,  been  all  the  time 
spreading  our  thin  texture  to  the  far  west,  until  we 
have  no  tenacity,  no  sympathies  in  common,  no 
efficient  education.  Our  national  government,  we 
have  seen,  has  eschewed  all  interference  or  control 
of  education,  and  left  it  to  chance  or  the  states; 
and  no  system  can  reach  our  people,  scattered  as 
they  are  in  the  wilds,  and  instruct  them.  The  very 
mails  fail  to  find  them  in  a  way  regular  enough  to 
impart  to  them  the  proper  information,  in  the  prompt 
way  necessary  to  connect  their  movements  with  the 
business  operations  of  the  day.  People  are  as  much 
or  more  enlightened  by  rapid  interchanges  of 
thought,  and  the  action  of  their  sympathies  upon 
each  other,  as  by  any  system  of  education. 


NOTES    ON    POLITICAL    ECONOMY. 


287 


A0Ti. 


CHAPTER    XXXII. 

STATE  DEBTS,  CITY  DEFENCES,  AND    LICENSES    TO   SELL 

SPIRITS. 


We  are  now  in  a  condition  of  great  distress  and 
even  discredit  from  our  state  debts.  Tiie  policy  that 
incurred  them,  though  impolitic  and  much  to  be  de- 
precated, is  not  the  question  now  ;  they  exist,  and 
how  to  get  rid  of  them  becomes  the  all-absorbing 
topic  for  our  politicians.  In  nearly  half  of  the 
cases,  the  expenditures  have  accomplished  no  good 
purpose,  and  the  debts  too  large  to  be  wielded  by 
the  states  that  incurred  them  ;  hence  the  interest 
on  nearly  half  lies  unprovided  for, and  in  some  cases 
the  debts  themselves  have  been  repudiated,  greatly 
to  the  disgrace  of  the  country.  Although  the  con- 
stitution prohibits  the  states  issuing  bills  of  credit, 
(and  what  can  be  a  stronger  bill  of  credit  than  a 
state  bond  or  state  stock  ?)  yet  the  debts  are  in- 
curred, and  the  disgrace,  like  the  darts  that  all  the 
beasts  in  the  Zodiac  point  to  the  good  man  in  the 
front  page  of  almanacs,  impales  our  federal  govern- 
ment and  wounds  its  tenderest  parts.  The  capi- 
talists abroad  look  upon  us  as  one  government,  and 
are  not  expected  to  make  the  distinction  between 


288  NOTES    ON   POLITICAL    ECONOMY. 

state  sovereignties  and  our  general  government ; 
scarcely  do  the  nations  of  Europe,  much  less  the 
individual  creditors,  make  such  a  distinction.  An 
obligation  seems  to  rest  on  our  federal  government, 
from  the  necessity  of  the  case,  to  step  forward  and 
veipe  off  these  unconstitutional  and  foul  tracks  of 
the  local  sovereignties,  and  redeem  the  nation  from 
the  disgrace.  Not  only  the  character  of  any  good 
and  proper  government  wants  to  be  vindicated 
from  all  such  reproaches,  but  more  especially  these 
United  States,  who  are  held  as  a  sort  of  sample 
government,  a  sort  of  last  test  of  the  great  princi- 
ples of  republicanism.  If  a  charge  of  unfairness 
and  shuffling  should  be  fastened  upon  us,  as  is  likely 
to  be  the  case,  it  will  not  only  injure  us,  but  the 
great  cause  of  free  government  in  which  we  have 
embarked,  and  give  occasion  for  the  enemies  of  hu- 
man rights  to  triumph.  The  precedents  that  Eng- 
land, France,  and  the  United  States,  have  establish- 
ed towards  Mexico  and  the  South  American  repub- 
lics, that  of  making  the  government  responsible  for 
the  debts,  defalcations,  and  even  spoliations  of  the 
subject,  and  recognized  in  the  Beaumarchais  case 
that  entered  into  our  arrangement  with  France,  go 
to  show  the  right  and  the  inclination  both,  of  the 
governments  to  which  the  creditors  appertain,  to 
interfere  in  the  case,  and  make  it  the  subject  of 
a  negotiation,  and  even  war  if  necessary.  Our 
state  debts  may  on  that  principle  cost  us  a  war, 
and  that  would  create  a  debt  of  twice  their  amount. 
Our  federal  government  certainly  finds  itself  in  a 


NOTES  ON   POLITICAL    ECONOMY.  289 

very  unpleasant  and  dishonorable  dilemma  on  this 
subject.  When  asked  to  assume  these  debts  she 
answers,  that  they  are  state  debts,  that  those  states 
are  sovereign  and  beyond  her  control,  and  that  she 
has  nothing  to  do  with  it.  The  foreign  government 
then  travels  down  to  the  indebted  state  and  under- 
takes to  force  it  to  pay,  when,  as  soon  as  any  pre- 
parations are  made  to  oblige  her  to  pay,  the  federal 
government  interferes,  espouses  her  cause,  and  pro- 
tects from  reprisal  the  indebted  state.  Tiiis  looks 
very  much  like  collusion,  and  proves  how  hollow 
and  fraudulent  in  its  results  the  declaration  that  she 
had  nothing  to  do  with  it  really  was.  This  sort  of 
juggling  will  not  satisfy  the  w^orld,  nor  vindicate 
the  character  of  our  government  from  fraud  and 
dishonor,  for  there  really  seems  to  be  both  in  the 
case. 

The  revenues  of  this  government  are  now  teem- 
ing, and  promise  an  overflowing  treasury  for  years 
to  come.  This  shows  an  ability,  and  places  the 
case  upon  grounds  without  any  excuse.  Two 
hundred  millions  of  stock  issued  by  the  fede- 
ral government,  bearing  an  interest  of  three  and  a 
half  per  cent.,  would  take  up  all  these  disgraceful 
debts,  which,  making  only  seven  millions  a  year  of 
interest,  would  not  be  felt,  and  would  not  even 
absorb  our  surplus  revenue.  Our  politicians  ought  to 
wake  up  to  this  disgrace,  and  labor  to  overcome  the 
action  of  that  party  that  does  not  feel  the  dishonor 
or  the  necessity  of  having  a  government  free  from 
reproach  or  charges  of  fraud,  and  a  want  of  high  and 

20 


290  NOTES    ON    POLITICAL    ECONOMY. 

honorable  sentiments.  For  the  character  of  repub- 
lics this  should  be  done,  as  well  as  to  aid  the  great 
cause  of  liberty ;  like  Caesar's  wife,  they  should 
not  only  be  pure,  but  unsuspected. 

City  defences.     Another  subject  has  arisen  since 
our  cities  have  grown  so  much,  and  are  filled  with 
reckless  foreigners  and  mobs,  as  to  the  best  and 
most  effectual  remedy  for  the  growing  disorders 
and  violences  that  prevail  in  them.    The  substance, 
and  all  the  interests  both  of  persons  and  property, 
are  threatened  by  the  lawless,  the  idle  and  vicious. 
So  far  all  the  police  established  in  our  cities  seems 
to  fail  on  the  great  occasions  of  mobs  and  riots. 
The  Mayor  and  his  staff,  backed  by  a  meagre  con- 
stabulary, become  powerless,  and  are  pushed  aside 
and  disregarded  in  such  affrays.     Let  us  first  in- 
quire  into  the  root  of  the  evil,  and  then   discuss 
some   remedy  for  it.     The  primary  cause  of  the 
whole  disorder  is  found  in  the  general  suffrage  that 
prevails  in  the  city  elections.     All  vote  that  are 
found  in  the  city,  or  have  been  a  few  months  there, 
without  any  interest  or   hold  on  the   community. 
The  vagabonds,  the  loafers,  the  paupers,  and  des- 
perate strangers  brought  over  and  turned  loose  upon 
the  town,  are  all  voters,  and  are  embodied   and 
brought  up  to  the  polls  by  the  designing  and  office 
seekers  ;  and  by  the  aid  of  such  votes  not  only  put 
in  office,  but  supported  in    their  ultra   measures 
against  the  property  of  the  citizens,  and  in  favor  of 
this  class  of  voters.     They  dare  not  do  their  duty 
when  it  bears  upon  vice  and  idleness,  because  they 


NOTES    ON    POLITICAL    ECONOMY.  291 

are  dependent  upon  them  for  their  office,  and  must 
compromise  with  all  disorder  for  the  same  reasons. 
This  unprincipled  and  mutual  support  between  the 
office-holders  and  voters  is  the  cause  of  all  the  dis- 
order, arrests  every  attempt  to  correct  it,  and 
laughs  at  the  ultimate  tendency  of  the  thing  and 
the  disgrace  incident  thereto.  In  our  cities  all  the 
guarantees  for  the  safety  of  persons  and  property 
seem  to  be  lost,  and  a  sad  foreboding  for  the  future 
nestles  gloomily  in  the  hearts  of  all  property-hold- 
ers and  good  citizens. 

Some  hope  has  been  lit  up  lately  from  the  ac- 
tion of  the  organized  militia  companies  that  exist 
in  our  cities,  and  a  vain  belief  entertained  that  they 
would  be  adequate  to  the  purposes  of  good  order. 
This  idea  is  fallacious,  because  most  of  those  com- 
panies have  a  fellow  feeling  w  ith  the  mob,  as  was 
manifest  in  Philadelphia;  and  wiiere,  if  they  do 
act,  so  much  odium  and  bitterness  attend  it  that 
the  militia  are  run  down,  their  persons  and  proper- 
ties endangered,  both  secretly  and  publicly;  and 
instead  of  getting  the  thanks  of  the  community, 
and  being  regarded  as  patriots,  are  rendered  so  un. 
popular  that  they  have  to  abandon  their  organiza- 
tion. Most  of  the  individuals  in  those  companies 
belonging  to  the  lower  classes  have  quit  them  from 
fellow  feeling  with  the  mob;  another  portion, 
through  fear  of  their  popularity,  and  future  pros- 
pects of  ambition;  which  leaves  only  a  few  large 
property-holders,  altogether  inadequate  to  the  pur- 
poses of  defence  against  such  odds.     Another  hope 


202  NOTES   ON   POLITICAL    ECONOMY. 

rested  upon  the  idea  that  cities  would  come  to  the 
necessity  of  employing  a  standing  army  or  police 
strong  enough  to  keep  order.  This,  too,  is  falla- 
cious, because  the  persons  who  generally  compose 
mobs  have  a  majority  of  voters,  and  will  take  care 
to  put  in  such  officers  as  will  not  take  any  such 
strong  measures  against  them ;  for  as  well  might 
you  expect  the  vicious  and  reckless  to  punish 
themselves  directly,  as  to  do  it  indirectly,  through 
the  officers  that  they  create  and  control.  The  only 
remedy,  then,  is  in  correcting  the  elective  franchise, 
and  taking  away  the  right  of  suffrage  from  the  un- 
substantial and  unsettled.  Let  the  substance  take 
care  of  itself  at  the  polls,  and  the  good  order  and 
justice  that  appertain  to  men  of  substance  and 
such  as  are  permanently  settled,  will  be  a  guar- 
antee for  the  safety  of  persons,  and  insure  the 
proper  administration  of  justice.  The  mayor  and 
councils  should  hold  their  offices  longer,  be  more 
independent,  and  have  the  power  to  inquire  into 
the  means  of  living  of  every  individual  in  the  corpo- 
ration. They  should  compel  every  individual  to  ac- 
count for  his  or  her  mode  of  living  and  movements, 
and  to  allow  none  to  remain  in  idleness  and  vice. 
The  case  is  one  of  crying  necessity,  and  unless  a 
change  be  put  in  train,  all  the  property  in  our  cities 
will  become  jeopardized,  all  persons  unsafe,  capi- 
tal and  investments  avoid  them,  and  all  business 
be  affected  in  them.  No  hope  arises  from  the  na- 
tional government,  that  has  no  troops  to  spare,  and 
so  many  state-right  and  constitutional  questions 


NOTES   ON   POLITICAL    ECONOMY.  293 

to  be  settled  before  it  acts,  that  it  would  be  too 
late  to  prevent  destruction. 

Licenses  to  sell  spirits.  In  these  days  of  temper- 
ance and  the  good  cause  that  is  trying  to  save  man- 
kind from  their  own  follies  and  bad  habits,  all  aids 
should  be  given  to  them  by  our  laws  and  authori- 
ties. We  have  now  light  and  experience  enough 
to  decide,  without  any  sort  of  question,  against  al- 
lowing or  licensing  the  sale  of  spirituous  liquors 
in  any  retail  way.  There  is  no  question  in  the 
minds  of  the  thinking  part  of  the  community,  but 
that  all  our  disorders  and  outbreaking  vices  are  the 
results  of  drink  and  drunkenness.  Since  then  the 
majority  of  the  worth  and  the  best  interests  of  the 
country  are  pointing  to  and  denouncing  this  habit  as 
most  ruinous  to  the  morals  and  property  of  the 
country,  why  not  stop,  by  legislative  enactments, 
its  open  and  overwhelming  course  ?  What  stays 
the  hands  of  our  state  legislatures,  and  the  heads 
of  our  corporations,  from  putting  an  immediate  stop 
to  it  by  withholding  all  licenses  to  retail  spirituous 
liquors  7  The  general  suffrage  here  speaks  also,  and 
having  the  votes,  forbids  our  legislators  and  officers 
from  acting  as  the  interests  of  the  country  require, 
because  so  many  worthless  voters  are  in  the  habit 
of  drinking,  that  they  by  their  clamor,  zeal,  and 
numbers,  deter  those  dependent  upon  such  votes 
from  all  attempts  at  a  prohibition  of  the  evil.  Most 
of  the  disorders  that  are  fastened  upon  the  coun- 
try, as  w^ell  as  all  the  evils  threatened,  depend  for 
their  support  on  this  principle.    Our  public  opin- 


^94  NOTES    ON    POLITICAL    ECONOMY. 

ion,  then,  cannot  be  very  influential  or  prompt  in 
controlling  either  the  elections  or  legislative  en- 
actments thus  scattered,  thus  ignorant,  and  thus 
defeated  by  an  unworthy  suffrage.  We  were 
met  at  the  very  entrance  into  national  existence 
by  this  scattering  condition,  by  a  want  of  education 
and  sympathy  among  the  people,  and  this  utter 
prostitution  of  the  sacred  elective  franchise,  which 
prevented  all  unity  of  action,  and  all  singleness  of 
purpose,  and  implanted  tlie  seeds  of  political  cor- 
ruption in  our  very  bosoms.  Suffrage  conceded  is 
gone  forever,  because  it  can  only  be  called  back 
by  the  ballot  boxes  or  a  revolution ;  the  former, 
being  the  majority,  wall  not  vote  a  disfranchise- 
ment of  themselves,  and  revolutions  wipe  out  with 
blood  and  despotism  in  such  a  case. 

A  perfect  representation  requires  to  be  based 
on  just  ratios  of  population,  and  the  substance  of 
the  land.  Without  both  of  these  elements  it  is 
liable  to  be  controlled  either  by  the  aristocracy  or 
the  corruption  of  demagogues.  Public  opinion, 
however  enlightened,  weighs  naught  with  the  rab- 
ble of  a  general  suffrage,  which  glories  in  bearing 
down  all  before  it  of  wortli  or  excellence.  A  rep- 
resentation rightly  constructed  is  the  best,  perhaps 
the  only  guarantee,  for  the  safety  of  persons  and 
property,  and  constitutes  the  very  foundation  of  all 
safe  and  free  government.  This  is  the  true  palla- 
dium of  liberty,  guards  from  defilement  her  sacred 
shrines,  and  stands  man  forth  the  free  and  noble 
being  the    God  of  nature   intended   him   to  be ; 


NOTES   ON    POLITICAL    ECONOMY. 

claiming  to  govern  himself.     Constitutions  go  for 
nothing  under  the  angry  or  interested  passions  of 
men;    charters  are  a  mockery  without  this   sup- 
port, and  the  concessions  of  the  rulers  of  mankind 
as  frail  as  their  hreath  that  granted  them.     A  rep- 
resentation hased  on  the  worth,  the   intelligence 
and  substance  of  the  land,  stands  forward  the  friend 
of  human  rights,  superior  to  aristocracy,  above  the 
gusts  of  party  feeling,  and  true  to  the  firm  founda- 
tion upon  which  it  rests.     It  cannot  become  cor- 
rupt, for  its  source  is  too  pure,  and  if  it  errs,  a  re- 
currence to  the  same  pure  source,  the  ballot  boxes, 
corrects  all  its  aberrations,  and  keeps  it  identified 
with  the  people.    Our  representation  has  sundry  de- 
fects too  deeply  seated  to  be  corrected,  because 
coeval  with  the  government,  and  stamped  in  its 
very  origin  upon  it  by  the  sovereignties  of  these 
states  :  I  mean   that   construction  of  the   Senate, 
which  gives  to  the  small  old  states  and  the  weak 
and  crude  new  ones  equal  power  with  the  rich  and 
populous  ones,  and  the  clause  which  allows  three- 
fifths  of  the  slaves  to  vote.     These  two  provisions 
interfere  with  all  just  ratios,  and  all  first  principles 
of  justice  and  right,  but  are  a  part  of  us,  and  must 
remain,  because  the  peace  and  harmony  of  the  con- 
federation require  it.     With  such  defects  our  rep- 
resentation   calls  still  louder    for  an  enlightened 
public  opinion  to  counteract  and  control  them,  and 
prevent  any  undue  use  being  made  of  them.     If  our 
representation,  besides  bearing  in  its  bosom  these 
constitutional    defects,   be    corrupted  in   its  very 


296  NOTES    ON   POLITICAL    ECONOMY. 

source  by  this  general  suffrage,  and  perverted  into 
base,  grovelling,  and  interested  channels,  instead 
of  its  being  this  guarantee  of  safety,  this  palladium 
of  liberty  we  speak  of,  it  then  subserves  party  pur- 
poses, and  becomes  a  pretext  and  cover  under  which 
the  designing  sap  all  resources,  destroy  all  rational 
liberty,  and  degrade  all  our  institutions,  until  the 
nation,  without  character  or  honor,  or  any  available 
policy,  sinks  into  contempt.  In  all  countries  where  a 
general  suffrage  rakes  up  and  embraces  the  worth- 
less, the  unsubstantial,  and  the  ignorant,  a  set  of  de- 
signing politicians  never  fail  to  control  them,  and 
bring  them  up  to  the  polls  to  carry  all  the  elec- 
tions, and  through  them  secure  to  themselves  the 
influence  in  the  legislatures.  A  feeling  is  soon  lit 
up  in  this  class  against  all  the  wealth,  intelligence, 
and  refinement  in  the  country,  which  they  are 
taught  to  brand  as  aristocrats  and  proud,  and  a 
total  separation  takes  place  very  much  to  the  inju- 
ry of  both.  The  patronage  extended  to,  and  the 
influence  exerted  upon,  the  ignorant  lower  classes, 
by  the  wealthy,  refined,  and  well-mannered,  would 
be  greatly  beneficial  if  nothing  stood  in  the  way, 
would  soften  their  manners,  inform  their  minds, 
and  render  them  every  way  better  ^'citizens  and 
more  happy.  All  that  is  lost  by  letting  them  in 
to  the  polls,  as  well  as  the  best  policies  of  the 
nation  ;  and  instead  thereof  a  morose  feeling,  a  se- 
cret hatred,  and  an  unrelenting  war  waged  upon 
the  worth  and  even  property  of  the  nation.  Agra- 
rian views,  political  corruption,  the  success  of  dem- 


NOTES    ON    POLITICAL    ECONOMY.  297 

agogues,  and  the  loss  of  all  true  patriotism  and  na- 
tional honor  follow  in  the  train,  until  all  is  lost, 
abused,  or  perverted.  Give  us  a  proper  suffrage, 
a  sound  representation,  and  an  enlightened  public 
opinion,  and  all  v^ill  not  only  be  safe  but  prosper- 
ous and  happy. 


CHAPTER    XXXIII 


NEW 


AMELIORATIONS  IN  AGRICULTURE. 

We  have  spoken  of  agriculture  and  its  produc- 
tions in  a  general  way,  and  how  they  would  be 
affected  by  a  tariff.  We  will  here  show  how  it 
can  be  extended,  ameliorated,  and  ornamented. 
Political  economy  ought  never  to  lose  sight  of  this 
real  basis  of  the  world's  prosperity  and  support. 
The  proper  discriminations  should  be  made  of  the 
different  sorts  of  staples  and  things  within  the  ca- 
pacity of  a  country  to  grow,  and  encourage  by  pro- 
tection or  bounties  such  as  tend  to  enrich  the  coun- 
try and  vary  its  productions  the  most.  Small  in- 
ducements often  would  introduce  a  new  and  valu- 
able culture,  when  there  is  spare  labor,  and  a  soil 
and  climate  suitable  for  it,  and  it  would  not  inter- 
fere with  other  cultures.     Variety  in  agriculture 


298  NOTES    ON    POLITICAL    ECONOMY*. 

should  be  aimed  at,  as  apt  to  hit  the  markets,  and 
is  nearly  as  important  in  this  department  as  in 
manufactures.  In  such  a  varied  product  there  are 
more  chances  for  a  profit,  nationally  speaking,  and 
more  certainty  of  some  available  export.  We 
have  already  much  variety  and  richness  in  our 
agricultural  productions,  as  well  as  great  volume, 
brought  about  by  individual  exertions  which  count 
us  largely.  We  will  now  undertake  to  show  what 
other  cultures  we  might  introduce  with  great  ad- 
vantage, and  to  the  relief  of  others  that  are  over- 
charged. I  have  already  alluded  to  the  silk  cul- 
ture, and  proved  that  it  is  admirably  adapted  to 
most  of  the  United  States,  and  calculated  to  bring 
into  value  and  productiveness  the  labor  of  women 
and  children  without  abstracting  them  from  their 
dear  homes,  and  that  it  will  leave  all  the  strong 
male  labor  for  the  out-door  operations  on  the  farm. 
A  little  bounty  or  a  high  protecting  tariff  w^ould 
do  this  much  sooner,  and  in  a  very  few  years  give 
us  one  of  the  most  valuable  and  elegant  staples  in 
the  world.  The  product  might  be  made  to  amount, 
in  a  year  or  two,  to  twenty  million  pounds  of  silk, 
w^orth  forty  to  fifty  million  dollars  to  the  country. 
Two  acres,  as  we  have  said,  are  enough  to  grow 
the  trees  upon  to  feed  worms  enough  to  produce 
fifty  pounds  of  raw  silk,  and  six  wrecks  the  time 
required  to  feed  the  w^orms.  Five  hundred  thou- 
sand families  engaged  in  the  United  States  grow- 
ing silk,  at  fifty  pounds  to  each  family,  amounts 
to    twenty-five   million   pounds   of  silk,  which  is 


NOTES    ON    POLITICAL    ECONOMY.  299 

more  than  England  and  all  the  North  of  Europe 
want. 

We  want  also  many  articles  necessary  to  our 
manufactories,  such  as  indigo,  madder,  and  woad, 
all  of  which  grow  well  in  our  country,  and  for  all 
which  we  have  a  plenty  of  spare  labor.  We  re- 
quire more  wool  too,  and  of  a  greater  variety,  suit- 
able for  blankets,  stuff  goods,  and  fine  shawls,  as 
well  as  clothes.  To  arrive  at  this  variety,  a  tariff 
should  encourage  it  enough  to  warrant  the  impor- 
tation of  all  the  sorts  of  sheep  and  goats,  and  the 
Peruvian  animals.  We  do  not  make  sugar  enough 
for  our  own  consumption  by  more  than  one  half, 
and  should  encourage  labor  into  that  production. 
We  have  soil  and  climate  enough  to  produce  up  to 
the  home  market,  if  rightly  encouraged,  and  there- 
by much  relieve  the  cotton  which  is  so  much  over- 
done. We  consume  largely  of  fruits,  wine,  and 
oils,  and  have  large  districts  of  poor  sandy  or  rocky 
territory  fitted  for  nothing  else,  thatwould  admira- 
bly suit  those  cultures,  and  thus  render  them  of 
some  avail.  Let  us  now  see  what  we  might  save 
annually  by  cultivating  these  things — say  in  silk 
ten  million  dollars,  in  wool  four  millions,  in  sugar 
four  millions,  in  wines  four  millions,  in  fruit  and  oil 
two  millions,  in  dye-stuffs  one  million,  all  of  which 
would  amount  to  twenty-five  million  dollars  made 
annually,  or  saved,  which  is  the  same  thing.  This 
vast  saving  too  would  not  be  at  the  expense  of 
any  other  production,  but  greatly  to  the  relief  of 
all,  as  all  are  overdone,  and  could  well  spare  labor. 


300       NOTES  ON  POLITICAL  ECONOMV. 

Under  the  idea  of  ameliorations  in  agriculture, 
we  would  encourage,  by  protection  and  bounties, 
the  importation  of  all  fine  and  useful  animals,  from 
which  to  breed  and  improve  our  stock ;  for  a  fine 
animal  eats  no  more,  hardly  as  much,  as  a  bad  one. 
Sample  farms  should  be  got  up  in  every  part  of  the 
United  States,  under  the  protection  of  the  federal 
or  state  government,  and  made  the  depositories  of  all 
improvements,  in  such  a  way  that  all  might  see  by 
inspection  the  benefits  of  any  new  or  useful  inven- 
tion. A  good  system  of  manuring  becomes  of  na- 
tional concern,  and  should  be  aided  by  the  encour- 
agement of  the  importation  of  guano,  lime,  gyp- 
sum, bones,  poudrette,  and  all  such  highly  available 
stimulants  and  aids  in  the  productions  of  the  soil, 
and  rewards  offered  for  the  discovery  or  compound- 
ing of  these  things  at  home.  A  proper  system  of 
manures  would  arrest  that  process  of  exliaustion 
that  is  going  on  annually  to  an  alarming  extent  in 
the  southern  portions  of  the  United  States,  and 
enable  the  country  to  put  on  a  cheerful,  improving 
appearance,  instead  of  the  blank  exhaustion,  gul- 
lies, and  dilapidation,  that  now  shock  the  mind  of 
the  true  patriot.  Another  good  effect  would  flow 
from  a  system  of  manuring  that  would  arrest  ex- 
haustion :  that  of  preventing  our  people  emigrating 
so  widely,  and  scattering  themselves  so  inefficiently 
in  the  west,  and  thereby  losing  all  the  advantages 
to  society  and  improvements  attendant  on  more 
dense  settlements.  Much  may  be  done  for  the  good 
health  and  productiveness  of  a  country,  to  have  it 


NOTES    ON    POLITICAL    ECONOMY.  301 

well  drained  by  the  proper  ditches,  and  secured  by 
proper  embankments  from  the  inundations  of  the 
rivers.  This  is  often  too  great  an  undertaking  for 
individuals,  as  long  lines  of  ditches  and  embank- 
ments extending  through  several  districts  are  to  be 
constructed,  and  rivers  straightened.  Such  things 
should  be  done  by  the  proper  engineers,  under  laws 
of  the  government,  or  charters  granted  to  the  pro- 
per persons.  Draining  a  country  not  only  renders 
it  more  healthy,  which  is  all  important,  but  pre- 
vents too  much  moisture,  and  those  swarms  of  in- 
sects that  destroy  all  our  fruit  and  annoy  our 
persons  so  much. 

Our  climate  is  subject  to  such  great  extremes 
of  heat  and  cold,  and  sudden  in  its  transitions  from 
the  one  to  the  other,  that  it  becomes  very  trying  on 
the  health  and  constitutions  of  our  people.  The 
government  should  look  to  that,  and  provide  for  a 
suitable  clothing  to  meet  these  extremes.  A  warm, 
cheap,  woollen  covering  is  all  important  to  our  la- 
borers that  are  exposed,  such  as  flannels,  blankets, 
bear-skin,  swansdown,  or  fearnought  cloths,  which 
should  be  established  beyond  all  necessity  of  looking 
abroad  for  these  things.  Since  our  laborers  began 
to  use  more  flannel  in  their  clothing  and  next  to 
their  skins,  they  are  more  healthy  This  indispen- 
sable article  is  still  too  dear,  as  well  as  all  the 
others  that  we  have  named,  and  should  be  protect- 
ed enough  to  insure  their  being  made  in  the  coun- 
try, and  as  cheap  as  possible  from  our  own  compe- 
tition.    Our  people  then  w^ould  not  suffer  so  much 


302  NOTES    ON   POLITICAL    ECONOMV. 

from  consumptions,  inflammatory  attacks,  and  ca- 
tarrlis.  Encouragement  should  also  be  given  by 
premiums,  and  so  forth,  to  induce  warmer  houses  to 
be  built.  Stone  or  brick  would  be  much  warmer 
than  the  thin,  wooden  shells  that  we  now  build, 
within  which  we  are  chilled  into  colds  and  ill 
health  every  winter.  The  New  England  popula- 
tion do  not  show  their  usual  shrewdness  in  this  re- 
spect, in  removing  the  material  nature  gave  to  them, 
fine  stone,  from  the  very  foundations  where  they 
set  their  shells  of  wood  houses.  This  wood,  too, 
often  costs  money,  and  requires  to  be  brought  from 
a  great  distance ;  whereas  the  stone  occupies  the 
ground,  and  is  in  the  way  of  this  factitious  build- 
ing which  they  resort  to. 

There  are  some  cultures  that  in  their  nature 
scarcely  ever  fail,  and  for  that  reason  are  available 
to  all  wise  and  regular  governments.  I  will  in- 
stance the  Irish  potato  crop  in  Europe.  Before 
this  culture  became  common  in  the  English  domin- 
ions in  Europe,  they  leaned  mainly  upon  the  wheat 
crop  for  their  support.  Any  thing  happening  to 
this  single  crop  the  whole  population  suflered,  and 
the  poor  intensely,  from  the  rise  that  w^ould  take 
place  at  such  times.  With  the  wheat  crop  there 
w^as  but  a  single  chance,  and  if  a  very  wet  or  very 
dry  season  prevailed,  or  insects,  or  rust,  this  crop 
was  so  affected  that  it  became  jeopardized ;  and 
the  poor,  with  all  the  precaution  of  opening  the 
ports  to  grain,  would  frequently  suffer  much  and 
long.     The  nation  was  often  impoverished  and  its 


NOTES    ON    POLITICAL    ECONOMY.  303 

specie  drawn  away  to  buy  corn  to  save  its  people 
from  starving.  The  potato  was  introduced,  chang- 
ed tlie  whole  face  of  the  thing,  and  saved  the  nation 
from  scarcely  any  future  suffering;  for  this  being 
a  certain  crop,  not  affected  by  moisture,  or  rust,  or 
insects — the  great  enemies  of  the  wheat — was 
always  ready  with  its  cheap  and  abundant  supply 
of  a  good  substitute  for  bread,  to  relieve  the  great 
mass  of  the  people.  The  best  writers  now  admit 
that  in  England,  Ireland,  and  Scotland,  the  potato 
relieves  from  the  consumption  of  wheat  bread 
three-fourths  of  the  whole  population  each  and 
every  year ;  and  when  the  wheat  crop  fails,  seven- 
eighths  of  the  population  consume  potatoes.  No 
scarcity  then  can  produce  much,  if  any,  suffering, 
because  the  better  classes  then  need  only  lean  the 
heavier  upon  the  potato  crop.  Two  chances  are 
thus  given  in  the  year  for  food  :  the  one  a  winter 
or  spring  crop — w^ieat,  barley,  rye,  and  oats  ;  and 
the  other,  a  fall  crop  of  the  potatoes.  The  one  or 
the  other  is  sure  to  hit,  and  often  both.  Nothing 
has  gone  so  far  to  keep  down  into  quiet  and  good 
order  the  whole  population  of  the  north  of  Europe, 
as  the  potato  culture.  When  a  people  are  mad,  or 
rather  infuriated,  with  hunger,  they  stop  at  nothing, 
but  break  down  all  before  them.  Bayonets  and 
muskets,  or  even  cannon,  offer  no  terrors  to  the 
starving ;  they  rush  into  all  and  every  danger  after 
food,  and  not  only  despoil  those  who  hoard  it,  but 
war  upon  all  wealth  and  plenty.  The  good  order 
then  of  society,  the  morals  of  a  people,  the  very 


304  NOTES    ON    POLITICAL    ECONOMY. 

safety  and  existence  of  a  government,  depend  upon 
the  certainty  of  food,  if  not  upon  its  quality.  Po- 
litical economy  ought  to  hail  this  culture,  this  good, 
and  wholesome,  and  palatable,  and  order-producing 
vegetable,  as  a  blessing  to  the  human  family,  and 
one  of  the  surest  supports  of  a  good  government. 
Could  the  introducer  of  the  potato  culture  be 
known,  all  mankind  should  rush  forth  and  erect  a 
monument  to  him,  as  one  of  the  very  best  and 
greatest  benefactors  to  man. 

We  in  this  country  have,  all  the  time,  two 
chances  for  a  crop :  the  Indian  corn,  buckwheat, 
and  potatoes,  are  summer  and  fall  crops,  along  with 
the  thousands  of  vegetables  that  then  flourish ;  and 
the  wheat,  rye,  oats,  and  barley,  which  are  winter 
or  spring  crops; — between  the  two  chances  we 
have  hardly  ever  a  scarcity  of  magnitude  enough 
to  lead  to  suffering.  The  supply  of  food  has  been 
all  the  time  a  very  certain  thing  in  this  country, 
and  none  of  our  disorders  or  irregularities  are  owing 
to  that  cause.  Our  politicians  ought  to  encourage 
this  diversity  of  chances  and  of  crops  all  the  time, 
and  if  individual  inclination  be  not  enough,  other 
inducements  ought  to  be  offered.  Our  agricultural 
societies,  too,  should  urge  the  thing  in  every  pos- 
sible way,  and  write  articles  in  the  journals,  giving 
reasons  for  it,  and  offering  premiums,  if  any  one 
should  drop  behind  and  need  it. 

FINIS. 


Sit 


•#f 


14  DAY  USE 

RETURN  TO  DESK  FROM  WHICH  BORROWED 


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Ot^.2     1*1 

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OPT  *?  n  irtrn 

'* 

AUG  2  5  2002 

NOV  6    1969 

oA;-J  0  8  2003 

' 

3£PX'/^^9^U 

MAR  1  9  19G 

1 

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LD  21A-50m-8,'57 
(C8481sl0)476B 

General  Library 

University  of  California 

Berkeley 

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II 


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